Bank of North America

The Bank of North America ( Bank of America ) was founded in 1781 by the Continental Congress and adopted on January 7, 1782 in Philadelphia its work. She was the first modern bank in the United States.

After the dealer and former Congressman Robert Morris, known as the " Financier of the Revolution ", ie the American Revolutionary War, he was appointed first Superintendent of Finance of the United States had adopted by February 20, 1781 on 14 May of that year, he proposed to the Congress three days later the inception of a national bank, which the latter agreed on 26 May. It was a private commercial bank, whose notes were nationally accepted by the Treasury and was granted a monopoly for the duration of the war.

In procuring the necessary capital Morris was personally active - including through the procurement of a loan from the French state. As Superintendent of Finance, he had the oversight of the Bank and certain of their policies. She put on a great number of gold and silver coins spending and changing.

Your role as a central bank lost the Bank of North America 1783/1784, herein you followed the First Bank of the United States after. As a private commercial bank in the name of Bank of North America survived until 1929, and then to go up in the First Pennsylvania Bank.