Bank of North America Opens

On January 7, 1782, the Bank of North America was opened in Philadelphia, Pennsylvania, as the first American commercial bank. This was a private bank  first adopted on May 26, 1781, by the Confederation Congress and chartered on December 31, 1781, a week prior to its official opening. It was based upon a plan presented by U.S. Superintendent of Finance Robert Morris on May 17, … Continue reading Bank of North America Opens