By Patrick follow 2013 Feb 26, 10:11am 219 views 0 comments
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One hundred fifty years ago, the U.S. was two years into a brutal Civil War. The financial cost left the federal government under enormous stress, leading to a result no one had imagined: the first modern system of bank regulation. Before Congress passed An Act to Provide a National Currency on Feb. 25, 1863, government oversight of banking had been quite crude.