A Bank Act passed on March 3,…

March 1865 CE

A Bank Act passed on March 3, 1865, imposes a tax of ten percent on the notes of state banks to take effect on July 1, 1866.

Similar to previous taxes, this effectively forces all non-federal currency from circulation.

It also results in the creation of demand deposit accounts, and encourages banks to join the national system, increasing the number of national banks substantially.’

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Washington District of Columbia Dist of Columbia United States View →

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United States of America (US, USA) (Washington DC) View → Confederate States of America (C.S.A.) View →

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American Civil War (War between the States, War of the Rebellion, War of Secession, War for Southern Independence) View → American Civil War & Reconstruction; 1864 through 1875 View →

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