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I farted

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11y ago
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6mo ago

Congress stopped the production of private bank notes through the passage of the National Bank Act in 1863. This act established a national banking system and required banks to obtain a federal charter to issue banknotes. This effectively ended the era of private bank notes and established a uniform currency backed by the federal government.

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Q: How did congress stop the production of private bank notes?
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How did congress stop the production of bank notes?

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