• Save
Money And The Banking System
Upcoming SlideShare
Loading in...5
×
 

Money And The Banking System

on

  • 1,043 views

 

Statistics

Views

Total Views
1,043
Views on SlideShare
1,019
Embed Views
24

Actions

Likes
0
Downloads
30
Comments
0

4 Embeds 24

http://mrrogerswebsite.weebly.com 9
http://mrrogerseconclass.blogspot.com 7
http://www.mrrogerseconclass.blogspot.com 6
http://www.slideshare.net 2

Accessibility

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Money And The Banking System Money And The Banking System Presentation Transcript

  • Money and the Banking System Objective: Examine the Banking System and Money
  • How Money is Used
    • Money is used as a medium of exchange
    • Money is also used as a standard of value
    • Money can be used as a store of value
    • Diamonds and gold are often used as stores of value
  • Characteristics of Money
    • Must be durable, portable, divisible, and stability
  • What Banks Do
    • Three common services are checking, savings, loans
    • A checking account is money a person leaves with the bank until its needed
    • A savings account is where people store their money
    • Banks use this money for loans and pays you interest
  • Banking
    • Banks charge more interest on loans then it pays on saving accounts
    • The difference between the two rates is profit for the bank
  • Banking in the U.S.
    • America was founded in 1776
    • With no central currency
    • 1791 the U.S. started the First Bank of the United States
    • In 1863 some felt the bank was too powerful and closed it.
  • Banking in the U.S.
    • With the national bank closed, smaller banks begin to print their own money
    • When these banks went out of business their money was now worthless
    • This forced people to keep lists of which banks are good or not
  • Banking in the U.S.
    • In 1863 the U.S. again established a national bank
    • Soon the country had a single currency again
    • Today national banks are apart of the Federal Reserve System