What happened to the bank of Nassau in 1917?

The end of the Second Bank of the United States marked the beginning of what is called the Era of Free Banking. Without a federal banking system, states offered charters to any bank that asked, often without oversight. Banks came and went, while states, banks, and even private companies offered their own paper currency at will. This came to an end with the passage of the National Banking Act of 1863.

The end of the Second Bank of the United States marked the beginning of what is called the Era of Free Banking.