Which act, passed in 1863, was significant for creating a unified banking system in the U.S.?

The National Bank Act of 1863 was significant because it established a system of national banks in the United States, providing a framework for a unified banking system. Prior to this act, the banking system was fragmented and largely state-controlled, often leading to economic instability and confusion due to the lack of uniform currency and regulations.

The National Bank Act created a system of chartered banks that were required to hold a certain amount of federal bonds, helping to secure the currency issued by these banks. This not only facilitated more reliable and standardized banking practices across the nation but also allowed for the issuance of a national currency backed by government bonds, which helped to stabilize the economy, especially during the Civil War.

The other acts mentioned, while historically significant, focused on different objectives. The Homestead Act aimed at promoting westward expansion by distributing land to settlers, the Pacific Railway Act facilitated the construction of a transcontinental railroad, and the Anaconda Plan was a military strategy during the Civil War. None of these acts were related to the establishment of a unified banking system in the way the National Bank Act was.