A History of Central Banking in Great Britain and the United StatesCentral banks in Great Britain and the United States arose early in the financial revolution. The Bank of England was created in 1694 while the first Banks of the United States appeared in 1791 1811 and 1816 36, and were followed by the Idependent Treasury, 1846 1914. These institutions, together with the Suffolk Bank and the New York Clearing House, exercised important central banking function before the creation of the Federal Reserve System in