1819

The charter of the Bank of America is revived, but also amended. This is to regulate lending practices among bank branches and currency in circulation. Inflation from the recession is gradually put under control. By request of the opposition, the Bank is placed under regular subpoena to ensure legal conformity.
  Augustus II founds the Royal Academy of Sciences, originally in order to develop agricultural progress. The scientific advances help cushion the economic effects of the decline of slave labor.