For just as the body is one and has many members, and all the members of the body, though many, are one body so it is with Christ. – 1 Corinthians 12:12
On this date in 1816, the Federal Government formally authorized the Second Bank of the United States. Established as a private corporation, the bank was designed to handle all the financial transactions of the U.S. government and answered to both the Treasury Department and to Congress. The bank also had the goal of establishing and maintaining a strong U.S. currency. The bank ultimately met its end in 1836 when its charter was vetoed by President Andrew Jackson, who saw the bank as being dangerous to American liberties. From 1837 to 1862, there was no central banking system in the United States, with only state-chartered banks operating. National banking eventually reemerged in 1863. Today’s central bank, the Federal Reserve, was not established until 1913. As you pray today, ask for wisdom for those controlling the nation’s finances.
As the Lord leads, pray with us…
- For Secretary Janet Yellen to seek the Lord for direction as she heads the Treasury Department.
- For prudence for Chairman Jerome Powell and members of the Federal Reserve Bank.
