Encyclopedia > First Bank of the United States

  Article Content

First Bank of the United States

The First Bank of the United States was proposed by Alexander Hamilton to relieve the war debt from the United States Revolutionary War and develop a national currency. Housed in Philadelphia, Pennsylvania (in Carpenter's Hall[?] for several years) when that city was capital, it was chartered in 1791 for 20 years, and thus expired in 1811. It followed the Bank of North America and it was succeeded by the Second Bank of the United States. Many people at the time questioned both the constitutionality and necessity of this institution.



All Wikipedia text is available under the terms of the GNU Free Documentation License

 
  Search Encyclopedia

Search over one million articles, find something about almost anything!
 
 
  
  Featured Article
Reformed churches

... The periods of persecution scattered French Reformed refugees to England, Germany, Switzerland, Africa and America. A free (meaning, not state controlled) synod of th ...

 
 
 
This page was created in 23.7 ms