Which act established standards for currency and made state bank notes unprofitable?

The National Currency Act of 1863 established a system for national banks, creating a uniform national currency and introducing standards for banknotes issued by these banks. By mandating that national banks secure their notes with U.S. government bonds, the act effectively made state bank notes less competitive and reduced their profitability. The act aimed to standardize the currency system in the United States and reduce the chaos and inconsistencies that came from having various state-issued notes. This transition to a national currency facilitated easier trade and economic stability, making it a pivotal moment in the evolution of American banking.

The other options pertain to different aspects of banking and financial systems. The Federal Reserve Act was focused on establishing the Federal Reserve System in 1913 and regulating monetary policy; the Glass-Steagall Act was primarily concerned with separating commercial banking from investment banking in the 1930s; and the Banking Act of 1933, also linked to the separation of different banking functions, came after the National Currency Act. Each of these acts played significant roles in U.S. banking history, but they did not address the same issues regarding currency standardization and the status of state bank notes as the National Currency Act did.