Aleksey Y. Salomatin
The US Banking Policy and Its Results: The First 100 years of Experiments,
in: Ekonomicheskaja istorija. Ezhegodnik (Economic Hystory. Yearbook). 2002, Moscow: ROSSPEN, 2003, p.583-595.

Summary
Beginning with the Hamiltonian plan of the First Bank of the US in the 1790s and throughout the existence of the Second Bank of the US till 1836, the American Government tried to create a stable mechanism for financing its budget and providing a healthy currency. Though the "chaos" of free banking in the 1830-1850s was useful for the pioneering country, the epoch of the Civil War and Industrialization required some kind of soft banking centralization. Under the situation of the banking expansion the new National banks peacefully coexisted with the old private and state banks and provided the necessary financial resources for the states of different social and economic orientation.

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