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Civil War Exhibit

The Stories of PNC Predecessors
Measures of Necessity: Bankers Respond to the Civil War

No event in American history matches the drama of the Civil War: 617,000 died in the line of duty, 4 million African Americans secured their freedom, and the nation upheld its commitment to democracy. It is hardly surprising then, that its impact upon the financial system is often overlooked. Unable to pay for the war, Congress established a centralized currency that gave the Union a decisive advantage over the Confederacy and served as the underpinnings for the creation of the Federal Reserve a half-century later.

Amidst the chaos of war and the uncertainty of this nascent financial system, bankers tried to sustain commerce and preserve their communities. The PNC Legacy Project invites you to explore the heroic efforts of bankers who saved a central Maryland city, innovatively protected their customers’ investments, and chartered new institutions to help their cities rebuild.

About the Legacy Project

Civil War Timeline