Agency history.
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Bank of the Commonwealth of Kentucky
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The Bank was chartered by the General Assembly in 1820 to offset the financial instability which followed the War of 1812. This instability was characterized by massive land speculation and unsecured borrowing, the multiplication of unsound banks, and the creation of more than a hundred different currencies. The speculative bubble burst in the 1819 panic with many Kentuckians facing bankruptcy and demanding help from the state government. The legislature char...
