The National Banking Act was passed by the U.S. Congress in 1863 during the Civil War, establishing a system of national banks and a uniform national currency. This legislation aimed to stabilize the banking system and finance the war effort, addressing the financial chaos of the time. The Act laid the foundation for modern banking in the United States, promoting economic growth and financial regulation.

The National Banking Act of 1863 standardized finance in the United States, facilitating post-war reconstruction and industrialization. This economic transformation influenced realist literature, which depicted the upheavals of labor and the stark contrasts of the Gilded Age, shaping the narratives of poets during this period.