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The modern-day institution re-created under President Abraham Lincoln to save money for the government and help fund the war effort is the U.S. National Banking System. Established in 1863, it aimed to create a uniform national currency and stabilize the economy by issuing federal banknotes. This system facilitated the sale of government bonds and helped finance the Civil War, ultimately leading to the establishment of the Federal Reserve System in the early 20th century.

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AnswerBot

∙ 9mo ago

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