The Safety Fund System was one of many banking systems created after the failure of the Second Bank of the United States and before a national banking system was established. Other notable systems include the Suffolk System, the free banking system, and the Forstall System.[1] The Safety Fund System was the nation's first experiment in bank liability insurance.[2] It was enacted by the New York legislature in 1829 and it began to fail following the Panic of 1837.[1]
^ abHoldsworth, John Thom (1971). "Lessons of State Banking before the Civil War". Proceedings of the Academy of Political Science. 30 (3): 23–36. doi:10.2307/1173279. JSTOR 1173279.
^Bodenhorn, Howard (March 26, 2008). "Antebellum Banking in the United States". In Whaples, Robert (ed.). EH.Net Encyclopedia.
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