How did the US evolve from colonial currency to the US Dollar and the National Banking Acts of 1863 and 1864?

When the first Europeans settled in the United States, people needed currency to promote trade soon. Before the dollar we knew, American colonies experienced several currency systems. Since most of the settlers came from the UK, the colony was under the control of the crown and used British pounds, Shilling, Penny system. The use of Spanish dollars is also very common, and the name of the official currency of the country comes from this custom.

In response, Congress passed the local currency law in 1863. In 1864, President Lincoln signed the amendment of the law, the "Kinki Banking Act". These laws establish a new national banking system and a new government agency led by currency supervisors. Comptroller's job is to organize and supervise the new banking system through regulation and periodic inspection. The new system works well. The National Bank purchased the securities of the US government, deposited it with the Secretary, and received the National Bank notes in return. By lending it to the borrower, the bill gradually enters circulation. In the case of a handful of national banks closed, the government sold the deposit and repaid it to the owner of the banknote. The owner of a national banknote lost his or her money

In order to solve the problem of the 'free bank' era, Congress passed the Kuombankan Act of 1863 and 1864, established the national banking system, and established a federal government approved banking system. The State Banking Act encourages the development of local currency supported by US Treasury bonds held by banks. As part of the US Treasury, it established a regulatory agency for the currency, which approved the review and management of the National Certified Bank.

In February 1863, the US Congress passed the "Kinki Banking Law". The bill established a currency system and the National Bank issued banknotes backed by US government bonds. After that, the US Treasury Department tried not to distribute the National Bank notes so that the National Bank notes are the only currency. There is much debate about the bimetal standard during this rebuilding. Some people use silver to support the dollar, others use money. After the "Gold Standard Law" was passed in 1900, the situation was settled and money was the only support for the dollar. This means, theoretically, you can take a note and replace it with the corresponding gold value. In 1913, the Federal Reserve System was established and has the power to lead the economy by controlling money supply and loan interest rates.