"The National Banking Acts destroyed the previously decentralized and fairly successful state banking system, and substituted a new,
centralized, and far more inflationary banking system under the aegis
of Washington and a handful of Wall Street banks. Whereas the effects
of the greenbacks were finally eliminated by the resumption of specie
payments in 1879, the effects of the National Banking System are still
with us. Not only was this system in place until 1913, but it paved the
way for the Federal Reserve System by instituting a quasi-central banking type of monetary system. The "inner contradictions" of the National
Banking System were such that the nation was driven either to go
onward to a frankly central bank or else to scrap centralized banking
altogether and go back to decentralized state banking."
e.g. the national banking act laid the foundation for the great depression.