In 1811, the Bank of the United States lost its charter after two decades of service, but it would soon be re-created. British occupation and arson destroyed the halls of Congress during the War of 1812, an experience which chastened some Senators and made them realize the importance of the institution they destroyed just a few years earlier.
But things couldn't stay the same as the arrival of capitalism was already changing financial culture.
This is episode 4 of Dollars & Debt: The Story of Money from Benjamin Franklin to Occupy Wall Street, a series on US financial history created by Athens Politics Nerd.
Watch episode 3: https://youtu.be/HekJ_mN94rs
Watch episode 5: https://youtu.be/SkJxo3HkxPc
SOURCES
Money, Whence it Came, Where it Went by John Kenneth Galbraith
A Financial History of the United States by Margaret Myers
The Origins and Economic Impact of the First Bank of the United States, David Jack Cohen
Banks and Politics in America, Bray Hammond
Early State Banks in the US: How Many Were There and When Did They Exist?, Warren Weber
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