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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Mana who wrote (274625)	7/13/2002 9:17:41 PM
From: CYBERKEN	Respond to of 769670

For the first half century of our nation's history, the currency was disastrously inadequate, and most of the economic activity was facilitated by barter. Hamilton created a little relief by starting a national bank. Jackson closed it down, and created a depression. After the Civil war the banking system grew stronger, but not enough to deal with the many panics and depressions that occurred throughout that period. It was only at the height of the Great Depression that our banking system was modernized and made truly adequate for the growth we have had since WWII. Without that modernization, which included both deposit insurance and a Fed that was independent from the whims of blowhard politicians, that growth would never have been possible...