Senate Passage of the National Bank Act
- When
- February 25, 1863
- Where
- United States Congress
The National Bank Act, originally the National Currency Act, passed the Senate on February 25, 1863, after Lincoln urged Congress to act.
The National Bank Act (ch. 58, 12 Stat. 665), originally known as the National Currency Act, was passed in the Senate by a 23–21 vote on February 25, 1863. Hoping to stabilize the currency, Lincoln convinced Congress to pass the National Banking Act in 1863. It was the first attempt to establish a federal banking system after the failures of the First and Second Banks of the United States, and it established the Office of the Comptroller of the Currency to oversee national banks, which were subject to federal rather than state regulation.
Sources
- National Bank Act Wikipedia, revision of 2026-08-01
- Abraham Lincoln Wikipedia, revision of 2026-09-27
Machine-drafted from the cited Wikipedia passages and checked by a reviewing model, not by a human editor. Every passage cites the revision it was written from; dates and places follow those passages.