In the early 1800s was not authorized to issue currency?

In the early 1800s, the United States did not have a central bank authorized to issue currency. The First Bank of the United States, which had been established in 1791, lost its charter in 1811, and there was no central banking institution until the Second Bank of the United States was chartered in 1816. As a result, various state-chartered banks issued their own notes, leading to a fragmented and often unstable currency system. This lack of a unified currency contributed to economic challenges and bank failures during that period.