Finance
Federal Reserve Established
On December 23, 1913, President Woodrow Wilson signed the Federal Reserve Act, establishing America’s current central banking system.
First Savings Bank in the U.S.
On December 4, 1816, the Philadelphia Savings Fund Society (PSFS) officially began operations. It’s credited as the first savings bank to be organized and conduct business in the United States.
Birth of Haym Salomon
Haym Salomon was born on April 7, 1740, in Leszno, Poland.
Federal Reserve Established
On December 23, 1913, President Woodrow Wilson signed the Federal Reserve Act, establishing America’s current central banking system.
Black Tuesday Stock Market Crash
On October 29, 1929, the worst stock market crash in history occurred, marking the start of the decade-long Great Depression.
Emergency Banking Act
On March 9, 1933, President Franklin Roosevelt passed the Emergency Bank Act (EBA) to provide financial relief during a Depression-era banking crisis.
Establishment of the New York Stock Exchange
On March 8, 1817, the New York Stock Exchange was established out of a reorganization of stockbrokers working under the Buttonwood Agreement.