Some attention has already been given to the banking history of the United States in so far as it relates to note issue - issuing of paper money. We may now properly examine with some detail the part these institutions played in the industrial development of the country. As a mere matter of convenience, the banking history of the United States may be divided into four periods: (1) the United States banks (1791-1836); (2) state banking (1836-1863); (3) national and state banking (1863-1913), (4) Federal Reserve banking (1913-19 - ).