A Brief History of Money. What is Money?. We normally think of currency when we think of money. However, more generally speaking, money is any commodity which satisfies the following: Unit of account Store of Value Medium of exchange. Early Commodity Money.
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Chartered and supervised by OCC
Could issue national currency
Controlled by State Regulatory authorities
Restricted from issuing national currency1863: Lincoln signed the National Banking Act, which created a dual banking system