1791

First Bank of the United States

After the War for Independence, The United States of America, a name the new country had adopted under the Articles of Confederation, was beset with problems. Alexander Hamilton, the first secretary of the Treasury under the new Constitution — had ambitious ideas about how to solve some of these problems. One of those was creating a national bank. In December 1790, Hamilton submitted a report to Congress in which he outlined his proposal. Hamilton used the charter of the Bank of England as the basis for his plan. He argued that an American version of this institution could issue paper money (also called banknotes or currency), provide a safe place to keep public funds, offer banking facilities for commercial transactions, and act as the government’s fiscal agent, including collecting the government’s tax revenues and paying the government’s debts. President Washington signed the bill into law in February 1791. The Bank of the United States, now commonly referred to as the first Bank of the United States, opened for business in Philadelphia on December 12, 1791, with a twenty-year charter. Read More

1930

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1900

Donec semper quam scelerisque tortor dictum gravida. In hac habitasse platea dictumst. Nam pulvinar, odio sed rhoncus suscipit, sem diam ultrices mauris, eu consequat purus metus eu velit. Proin metus odio, aliquam eget molestie nec, gravida ut sapien. Phasellus quis est sed turpis sollicitudin venenatis sed eu odio. Praesent eget neque eu eros interdum malesuada non vel leo. Sed fringilla porta ligula.