First Bank of the United States — Local services in Philadelphia

In 1791, the Bank of the United States was one of the three major financial innovations proposed and supported by Alexander Hamilton, first Secretary of the Treasury. In addition to the national bank, the other measures were an assumption of the state war debts by the U.S. government, establishment of a mint and imposition of a federal excise tax. The goals of Hamilton's three measures were to: Establish financial order, clarity, and precedence in and of the newly formed United States. Establish credit—both in a country and overseas—for the new nation. Resolve the issue of the fiat currency, issued by the Continental Congress immediately prior to and during the American Revolutionary War—the "Continental". In simpler words, Hamilton's four goals were to: Have the Federal Government assume the Revolutionary War debts of the several states Pay off the war debts Raise money for the new government Establish a national bank and create a...

After the Revolutionary War, the United States faced overwhelming debt and an uncertain commercial future. As a response, Secretary of the Treasury Alexander Hamilton stepped forward with a plan to establish a national bank, which would give the federal government more authority to handle the fiscal situation. His proposal incited a heated debate that tested the U.S. Constitution’s boundaries and laid the foundation for the country’s financial system. Located on 3rd Street between Walnut and Chestnut, the First Bank of the United States is currently closed to the public, but its compelling history and stunning exterior continually draw observers from all...

Our family came here twice - once with day time “free tours by foot” and again at night with “grim Philly tours” both fantastic tours!!! 20 year charter for this bank thanks to Alexander Hamilton’s concept of a national debt and national bank. States had No intention of making this into a permanent thing. After 20 years they sold it to Gertrude who opened up his own bank - 5 years later the government wanted to purchase it back but he said “nope” Today it holds portrait museum which is worth checking out (takes...