Америка Құрама Штаттарының орталық банк жүйесінің тарихы

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This history of central banking in the United States encompasses various bank regulations, from early wildcat banking practices through the present Federal Reserve System.

Some Founding Fathers were strongly opposed to the formation of a national banking system; the fact that England tried to place the colonies under the monetary control of the Bank of England was seen by many as the "last straw" of oppression which led directly to the American Revolutionary War. Others were strongly in favor of a national bank. Robert Morris, as Superintendent of Finance, helped to open the Bank of North America in 1782, and has been accordingly called by Thomas Goddard "the father of the system of credit and paper circulation in the United States". As ratification in early 1781 of the Articles of Confederation had extended to Congress the sovereign power to generate bills of credit, it passed later that year an ordinance to incorporate a privately subscribed national bank following in the footsteps of the Bank of England. However, it was thwarted in fulfilling its intended role as a nationwide national bank due to objections of "alarming foreign influence and fictitious credit", In 1811 its twenty year charter expired and was not renewed by Congress. Absent the federally chartered bank, the next several years witnessed a proliferation of federally issued Treasury Notes to create credit as the government struggled to finance the War of 1812; a suspension of specie payment by most banks soon followed as well.

After five years, the federal government chartered its successor, the Second Bank of the United States (1816–1836). James Madison signed the charter with the intention of stopping runaway inflation that had plagued the country during the five year interim. It was essentially a copy of the First Bank, with branches across the country. Andrew Jackson, who became president in 1829, denounced the bank as an engine of corruption. His destruction of the bank was a major political issue in the 1830s and shaped the Second Party System, as Democrats in the states opposed banks and Whigs supported them. He was unable to get the bank dissolved, but refused to renew its charter. Jackson attempted to counteract this by executive order requiring all federal land payments to be made in gold or silver, in accordance with his interpretation of The Constitution of the United States, which only gives Congress the power to "coin" money, not emit bills of credit. The Panic of 1837 followed. The Bank then flatly denied a subpoena to examine its records and its chief, Nicholas Biddle, bemusedly observed that it would be ironic if he went to prison "By the votes of members of Congress because I would not give up to their enemies their confidential letters". Despite congressional corruption, Biddle was eventually arrested and charged with fraud. The Bank's charter expired in 1836.

Early in 1907, New York Times Annual Financial Review published Paul Warburg's (a partner of Kuhn, Loeb and Co.) first official reform plan, entitled "A Plan for a Modified Central Bank", in which he outlined remedies that he thought might avert panics. Early in 1907, Jacob Schiff, the chief executive officer of Kuhn, Loeb and Co., in a speech to the New York Chamber of Commerce, warned that "unless we have a central bank with adequate control of credit resources, this country is going to undergo the most severe and far reaching money panic in its history." "The Panic of 1907" hit full stride in October. [Herrick]

Bankers felt the real problem was that the United States was the last major country without a central bank, which might provide stability and emergency credit in times of financial crisis. While segments of the financial community were worried about the power that had accrued to JP Morgan and other financiers, most were more concerned about the general frailty of a vast, decentralized banking system that could not regulate itself without the extraordinary intervention of one man. Financial leaders who advocated a central bank with an elastic currency after the Panic of 1907 included Frank Vanderlip, Myron T. Herrick, William Barret Ridgely, George E. Roberts, Isaac Newton Seligman and Jacob H. Schiff. They stressed the need for an elastic money supply that could expand or contract as needed. After the scare of 1907 the bankers demanded reform; the next year, Congress established a commission of experts to come up with a nonpartisan solution.

Rhode Island Senator Nelson Aldrich, the Republican leader in the Senate, ran the Commission personally, with the aid of a team of economists. They went to Europe and were impressed with how the central banks in Britain and Germany appeared to handle the stabilization of the overall economy and the promotion of international trade. Aldrich's investigation led to his plan in 1912 to bring central banking to the United States, with promises of financial stability, expanded international roles, control by impartial experts and no political meddling in finance. Aldrich asserted that a central bank had to be, paradoxically, decentralized somehow, or it would be attacked by local politicians and bankers as had the First and Second Banks of the United States. The Aldrich plan was introduced in the 62nd and 63rd Congresses (1912 and 1913) but never gained much traction as the Democrats in 1912 won control of both the House and the Senate as well as the White House.

The new President, Woodrow Wilson, then became the principal mover for banking and currency reform in the 63rd Congress, working with the two chairs of the House and Senate Banking and Currency Committees, Rep. Carter Glass of Virginia and Sen. Robert L. Owen of Oklahoma. It was Wilson who insisted that the regional Federal Reserve banks be controlled by a central Federal Reserve Board appointed by the president with the advice and consent of the U. S. Senate.

William Jennings Bryan, now Secretary of State, long time enemy of Wall Street and still a power in the Democratic Party, threatened to destroy the bill. Wilson came up with a compromise plan that pleased bankers and Bryan alike. The Bryanites were happy that Federal Reserve currency became liabilities of the government rather than of private banks—a symbolic change—and by provisions for federal loans to farmers. The Bryanite demand to prohibit interlocking directorates did not pass. Wilson convinced the anti bank Congressmen that because Federal Reserve notes were obligations of the government, the plan fit their demands. Wilson assured southerners and westerners that the system was decentralized into 12 districts, and thus would weaken New York City's Wall Street influence and strengthen the hinterlands. After much debate and many amendments, Congress passed the Federal Reserve Act or Glass–Owen Act, as it was sometimes called at the time, in late 1913. President Wilson signed the Act into law on December 23, 1913.

The Federal Reserve System, also known as the Federal Reserve or simply as the Fed, is the central banking system of the United States today. The Federal Reserve's power developed slowly in part due to an understanding at its creation that it was to function primarily as a reserve, a money creator of last resort to prevent the downward spiral of withdrawal/withholding of funds which characterizes a monetary panic. At the outbreak of World War I, the Federal Reserve was better positioned than the United States Department of the Treasury to issue war bonds, and so became the primary retailer for war bonds under the direction of the Treasury. After the war, the Federal Reserve, led by Paul Warburg and New York Governor Bank President Benjamin Strong, convinced Congress to modify its powers, giving it the ability to both create money, as the 1913 Act intended, and destroy money, as a central bank could. During the 1920s, the Federal Reserve experimented with a number of approaches, alternatively creating and then destroying money which, in the eyes of Milton Friedman, helped create the late 1920s stock market bubble and the Great Depression. After Franklin D. Roosevelt took office in 1933, the Federal Reserve was subordinated to the Executive Branch, where it remained until 1951, when the Federal Reserve and the Treasury department signed an accord granting the Federal Reserve full independence over monetary matters while leaving fiscal matters to the Treasury. The Federal Reserve's monetary powers did not dramatically change for the rest of the 20th century, but in the 1970s it was specifically charged by Congress to effectively promote "the goals of maximum employment, stable prices, and moderate long term interest rates" as well as given regulatory responsibility over many consumer credit protection laws. Since the Global Financial Crisis, central banks globally (including the Federal Reserve) have implemented several experimental Unconventional Monetary Policy Tools (UMPS) in order to achieve their monetary policy objectives.