worked as a secretary, writer, lawyer, and state
legislator before being appointed to the Bank of
the United States as a director in 1819. Named
president of the Bank in 1823, he made it one of
the most powerful institutions in the country,
leading to a two-decade "war" with
President Andrew Jackson.
was a major force in American business and
industry in the late-18th and early-19th
centuries. His company controlled major
railroads, electric companies, and steel and
agricultural equipment industries, and was so
powerful that it was actually given the task of
replenishing the nation's gold reserve.
Federal Reserve Board
is responsible for the formulation of monetary
policy. It does this by setting reserve
requirements and, with the Reserve Banks, sets
the "prime lending rate." It is also
responsible for helping implement federal laws
governing consumer credit.
On September 2, 1969, a machine called a
Docuteller "opened for business" on an
outside wall of the Chemical Bank branch in
Rockville Centre, New York.