Friday, February 26, 2010

This Day In History: First National Bank Chartered in 1791

Yesterday marked the anniversary of the charter of the United States' first national bank in 1791. The bank was established to help fund debt that was left over from the Revolutionary War and to introduce a stable national currency. This concept created much debate and hostility between the two political parties (sound familiar?), and the nature of the national bank is still a hot topic in today's struggling economy.

This drawing is a picture of the First National Bank, which was established in Philadelphia, Pennsylvania.

For more information on the history of the banking system and the Federal Reserve, check out these books from the NCC Libraries:

The Federal Reserve System: A History
by Donald R. Wells
HG 2563 .W3626 2004 Stacks, Main

Banks and Their Customers
by Margaret C. Jasper
KF 975 .J37 2004 Stacks, Main

The Future of Banking
by Benton E. Gup
HG 1601 .F88 2003 Stacks, Main

Encyclopedia of Banking and Finance
by Charles J. Woelfel
E-BOOK (Online)

Pennsylvania, Birthplace of Banking in America
by Belden L. Daniels
HG 2611 .P4 D35 Stacks, Main

Financing American Enterprise: The Story of Commercial Banking
by Paul B. Trescott
HG 2471 .T7 Stacks, Main

Banks and Politics in America, From the Revolution to the Civil War
by Bray Hammond
HG 2472 .H3 Stacks, Main

Works Cited:
Banks and banking. Photograph. Encyclopædia Britannica Online. Web. 7 Dec. 2009 <>.

"Bank of the United States." Encyclopædia Britannica. Encyclopædia Britannica Online. Web. 7 Dec. 2009 <>.

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