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Topic: Bank of the United States

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First Bank of the United States

Second Bank of the United States

Banking

National Banking Act

Capitalism in the nineteenth century

Federal Reserve Act

Federal Reserve

Nicholas Biddle (banker)

Federal Reserve Banks

Federal Reserve Board

John Tyler

1841

Andrew Jackson

Corporation

Morrill tariff

	Finance Portal - Bank
		Sterling Savings Bank today announced that Heidi Stanley has been named the 14th most powerful...
		HarVest Bank of Maryland, a locally owned full service commercial bank, today announced the appointment...
		Bank of the West and Brooke Savings Bank, a wholly owned subsidiary of Brooke Corporation...
	www.financedir.com /bank (167 words)

	EH.Net Encyclopedia: First Bank of the United States
		The national Bank would confer many benefits on the government including a ready source of loans, a principal depository for federal monies that were transferable from city to city without charge, and a clearing agent for payments on the national debt.
		The death of the Bank was another chapter in an ongoing debate between the early leaders of the country who were split between those who preferred a weak central government on the one hand and those who desired a strong central government on the other.
		The political die of the United States was cast with that document, and by 1792 the economic base of Federalism was in place, first with the Federal funding of national and state war debts, and second, with a sound national Bank in place to give coherence to the developing U.S. financial system.
	www.eh.net /encyclopedia/cowen.banking.first_bank.us.php (2378 words)

	Andrew Jackson's Message on his Veto of the Rechartering of the Bank of the United States
		The branch bank at Mobile made last year $95,140, yet under the provisions of this act the State of Alabama can raise no revenue from these profitable operations, because not a share of the stock is held by any of her citizens.
		The State banks are a qualified restoration of the right which has been taken away by the laws against banking, guarded by such provisions and limitations as in the opinion of the State legislatures the public interest requires.
		The bank is professedly established as an agent of the executive branch of the Government, and its constitutionality is maintained on that ground.
	www.sjsu.edu /faculty/watkins/BofUS03.htm (2402 words)

	Bank of the United States
		But the Bank of the United States was a private institution and foreign buyers purchased ownership shares of the bank until the 70 percent of the bank was owned by foreigners.
		Support for the second Bank of the United States came from political figures such as President James Monroe and Senator John C. Calhoun who were concerned with the low credit and financial solvency of the Federal government, as revealed by the difficulties financing the costs of the War of 1812.
		The Bank was controlled by a boaard of twenty directors, 15 elected by the private stockholders and 5 appointed by the President of the United States.
	www.sjsu.edu /faculty/watkins/BofUS.htm (950 words)

	The Avalon Project : President Jackson's Veto Message Regarding the Bank of the United States; July 10, 1832
		It is maintained by the advocates of the bank that its constitutionality in all its features ought to be considered as settled by precedent and by the decision of the Supreme Court.
		A bank is constitutional, but it is the province of the Legislature to determine whether this or that particular power, privilege, or exemption is "necessary and proper" to enable the bank to discharge its duties to the Government, and from their decision there is no appeal to the courts of justice.
		The old Bank of the United States possessed a capital of only $11,000,000, which was found fully sufficient to enable it with dispatch and safety to perform all the functions required of it by the Government.
	www.yale.edu /lawweb/avalon/presiden/veto/ajveto01.htm (5924 words)

	Export-Import Bank of the United States Telework Policy
		The Bank is a relatively small Federal agency with less than 380 full-time, career employees in the Washington, DC headquarters and one to five employees located in 6 regional locations.
		The policy also allows the Bank to be responsive to personal and family medical emergencies which require the employee to work outside of the Bank for some or all of the time, again however, for periods of a set duration, normally not to exceed (six months or one year).
		The employee must agree to either return to the Bank at the conclusion of the approved period or sign a statement which indicates the employee is either voluntarily returning to the Bank or resigning at the end of the approved period.
	www.opm.gov /telework/policies/exportimport.asp (1701 words)

	Second Bank of the United States/Portrait Gallery
		The Second Bank of the United States was chartered for many of the same reasons as its predecessor, the First Bank of the United States.
		State bankers felt the central bank's influence frustrated their ability to function.
		Westerners and farmers claimed the bank was a baleful tool of city folks and overseas interests.
	www.ushistory.org /tour/tour_2bank.htm (402 words)

	The Avalon Project : Hamilton's Opinion as to the Constitutionality of the Bank of the United States, 1791
		To deny that the government of the United States has sovereign power, as to its declared purposes and trusts, because its power does not extend to all cases would be equally to deny that the State governments have sovereign power in any case, because their power does not extend to every case.
		It is that which declares that the Constitution, and the laws of the United States made in pursuance of it, and all treaties made, or which shall be made, under their authority, shall be the serene law of the land.
		The Secretary of State introduces his opinion with an observation, that the proposed incorporation undertakes to create certain capacities, properties, or attributes, which are against the laws of alienage, descents, escheat and forfeiture, distribution and monopoly, and to confer a power to make laws paramount to those of the States.
	www.yale.edu /lawweb/avalon/amerdoc/bank-ah.htm (9952 words)

	Daniel Webster And the War on the Second Bank of the United States
		His father, Ebenezer Webster, was a Captain of a New Hampshire militia unit and fought at Dorchester Heights (Bunker Hill) and Bennington, Vermont.[1] As a young boy, Daniel possessed a physical weakness that inclined him to studies and long walks in the countryside.
		When the Second Bank of the United States had been chartered in 1816, a branch was opened in Baltimore, Maryland.
		One of the special features of the Bank of the United Sates (B.U.S.) was the ability to demand payment in specie (hard currency) for bank notes derived from lesser State banks.
	www.earlyamerica.com /review/2004_winter_spring/webster.htm (2625 words)

	United States Central Bank — The Fed is an Illegal United States Central Bank
		It was all done in secrecy because this banking cabal knew it was pulling off an illegal heist of the wealth of the American people.
		He allowed into existence a United States central bank that would be allowed to bully the American people into paying a fraudulent and unconstitutional income tax.
		The Federal Reserve Act and its subsequent United States central bank was the beginning of the slow transformation America has gone through from republic to police state.
	www.fdrs.org /united_states_central_bank.html (886 words)

	Bank of the United States. The Columbia Encyclopedia, Sixth Edition. 2001-05
		The first bank was established under the auspices of the Federalists as part of the system proposed by Alexander Hamilton to establish the new government on a sound economic basis.
		Financing the War of 1812 proved difficult because of the lack of a central bank, and by the end of the war the financial system of the country was in chaos.
		It became especially prosperous under the management of Nicholas Biddle, but was criticized by state banks and frontiersmen on the grounds that it was too powerful and that it operated in the interests of the commercial classes of the East.
	www.bartleby.com /65/ba/BankUS.html (505 words)

	The First Bank of the United States - Picture - MSN Encarta
		The First Bank of the United States - Picture - MSN Encarta
		The First Bank of the United States, the country's first national bank, was chartered in 1791 and located in Philadelphia, Pennsylvania.
		The bank acted as a repository for government funds and as a source of loans for individuals, state governments, and the federal government.
	encarta.msn.com /media_701508984_761575515_-1_1/the_first_bank_of_the_united_states.html (56 words)

	From Revolution to Reconstruction: Essays: central banking USA 04
		Chief Justice Marshall wrote "After the most deliberate consideration, it is the unanimous and decided opinion of this court that the act to incorporate the Bank of the United States is a law made in pursuance of the Constitution, and is part of the supreme law of the land" (Hixson, 117).
		Although the Second Bank was not a campaign issue (Biddle actually voted for Jackson), by 1832, four years before the Bank's charter was to expire, political divisions over the Bank had already formed (Ibid).
		A bank of the United States is in many respects convenient for the Government and for the people.
	odur.let.rug.nl /~usa/E/usbank/bank04.htm (687 words)

	The Second Bank of the United States (Site not responding. Last check: )
		In the case now to be determined, the defendant, a sovereign State, denies the obligation of a law enacted by the legislature of the Union, and the plaintiff, on his part, contests the validity of an act which has been passed by the legislature of that State.
		The result is a conviction that the States have no power, by taxation or otherwise, to retard, impede, burden, or in any manner control, the operations of the constitutional laws enacted by Congress to carry into execution the powers vested in the general government.
		We are unanimously of opinion, that the law passed by the legislature of Maryland, imposing a tax on the Bank of the United States, is unconstitutional and void.
	home.earthlink.net /~jkash2/bank.html (1071 words)

	Amendment XI: Osborn v. Bank of the United States (Site not responding. Last check: )
		The bill is brought, it is said, for the purpose of protecting the Bank in the exercise of a franchise granted by a law of the United States, which franchise the State of Ohio asserts a right to invade, and is about to invade.
		The eleventh amendment of the constitution has exempted a State from the suits of citizens of other States, or aliens; and the very difficult question is to be decided, whether, in such a case, the Court may act upon the agents employed by the State, and on the property in their hands.
		The Bank of the United States contends, that in all cases in which jurisdiction depends on the character of the party, reference is made to the party on the record, not to one who may be interested, but is not shown by the record to be a party.
	press-pubs.uchicago.edu /founders/documents/amendXIs4.html (2701 words)

	Second Bank of the United States
		The First Bank of the United States, a private institution, was chartered by the Bank of England in 1791 and operated for 20 years as the government’s fiscal agent and depository of funds.
		The state of Maryland imposed a tax on the bank's operations, and when James McCulloch, the cashier of the Baltimore branch of the Second BUS, refused to pay the taxes, the issue quickly rose to the Supreme Court.
		The U.S. Supreme Court ruled that a central bank was constitutional, but it is important to keep in mind that, prior to the Civil War, it was not at all universally agreed that the federal government itself should be the arbiter of the limits of its own powers.
	www.u-s-history.com /pages/h256.html (1821 words)

	The Bank of the United States
		The Bank of the United States is a symbol of the long held American fear of centralization and government control.
		The stock of the bank was bought and held mainly by the US government and numerous businessmen among the states of the Union.
		The fact that the Constitution did not state that the government could not incorporate a bank was a main argument against it, and ultimately, the bank was not rechartered.
	www.bu.edu /econ/faculty/kyn/newweb/Ec341_money/Papers/Morick_paper.htm (1625 words)

	First Bank of the United States
		Now the creditors of the United States, which included the Bank of England, wanted to be paid the interest on the loans that were granted to the United States.
		State and local bank interests were displeased with the competition and lobbied hard for the demise of the BUS.
		United States was chartered for many of the same reasons as its predecessor, the First Bank of the United States.
	www.u-s-history.com /pages/h443.html (899 words)

	National Park Service: The U.S. Constitution
		The Second Bank of the United States, at 420 Chestnut Street, was designed by architect William Strickland and built between 1819 and 1824 at the cost of nearly half-a-million dollars.
		The Second Bank of the United States first established itself in Carpenters' Hall in 1817, after Congress determined that a federal bank might spare the country a repeat of the financial crisis the country experienced during the War of 1812.
		His veto of the bank bill set forth two clear and distinct messages—that the Supreme Court was not the final arbiter of all constitutional questions, and that the President could exercise a judgment independent of Congress, upon matters of policy, persumably even where constitutional issues were not involved.
	www.cr.nps.gov /history/online_books/butowsky2/constitution7.htm (1643 words)

	Bank of the United States
		The Bank of the United States was established in Philadelphia in 1791.
		The governor of New York, Franklin D. Roosevelt, was one of those deeply shocked by the failure of the Bank of the United States.
		There was one bank in New York, the Bank of the United States - in the wake of that closing, two hundred smaller banks closed because of the deposits in that bank from the others.
	www.spartacus.schoolnet.co.uk /USACbank.htm (542 words)

	The First Central Bank of the United States
		(a) Congress has power to incorporate a bank; and the act of April 10, 1816, to incorporate the subscribers to the Bank of the United States, is a law made in pursuance of the constitution.
		A state cannot tax the Bank of the United States, and any attempt by the officers or courts of the state to enforce a law laying a tax upon the property of the Bank, may be restrained by injunction.
		Osborne v The Bank of the United States, 9 Wheat.
	landru.i-link-2.net /monques/firstbank.html (994 words)

	mhp: The Bank of the United States
		This Bank of the United States would have a capital stock plan of $10 million, with 4/5's (80%) to be owned by private investors and 1/5 (20%) by the U.S. Government.
		Central banking was initiated by international banker William Paterson in 1691 when he obtained the Charter for the Bank of England which put the control of England's money in a privately owned company which had the right to issue notes payable on demand against the security of bank loans to the crown.
		The bank was run by the Illuminati, through such international banker "front men" as John Jacob Astor, Stephen Girard, and David Parish (a Rothschild agent for the Vienna branch of the family).
	www.modernhistoryproject.org /mhp/ArticleDisplay.php?Article=FinalWarn02-1 (4229 words)

	National Park Service: The U.S. Constitution
		The bank is a three-story brick structure with a marble front and trim.
		The First Bank of the United States is significant because the institution provoked the first great debate over strict, as opposed to an expansive interpretation of the Constitution.
		In adopting Hamilton's proposal and chartering the bank both the Congress and the President took the necessary first steps toward implementing a sound fiscal policy that would eventually ensure the survival of the new federal government and the continued growth and prosperity of the United States.
	www.cr.nps.gov /history/online_books/butowsky2/constitution5.htm (1378 words)

	Bank of the United States
		The brainchild of Alexander Hamilton, the Bank of the U.S. was set up to handle the monetary affairs of the federal government.
		After the War of 1812 proved yet again that the federal government needed a central bank, Congress granted a charter for the Second Bank of the United States.
		This bank functioned much like the first one (with 25 branch offices) and met with much the same opposition from state banks, farmers, and people from the West.
	www.socialstudiesforkids.com /wwww/us/bankoftheusdef.htm (225 words)

	Bank of the United States (Andrew Jackson on the Web) (Site not responding. Last check: )
		The article Bank of the United States also covers the first bank (which expired in 1811).
		Student Essay: "The Destruction of the Second Bank of the United States: Rationale and Effects" by Gareth Davis.
		Seeks to "analyse from the perspective of a historian of economic thought and policy the rationale and implications of the destruction of the Second bank of the United States." Wrong-headed.
	www.isidore-of-seville.com /jackson/8.html (578 words)

	The Destruction of the Second Bank of the United States
		With the destruction of the bank, the power of intervention in the banking and monetary system was left in the hands of individual states until the civil war.
		Both advocates of the free banking (or soft money) school and proponents of a return to a specie economy (or hard money) saw the destruction of the bank as very important, but for both of them, its destruction was a means to divergent and conflicting ends.
		Frass (1974) notes how the bank acted under a congressional mandate to establish and maintain a uniform national currency by policing the state banks to ensure that convertibility was maintained at a high level.
	www.maths.tcd.ie /local/JUNK/econrev/ser/html/destruction.html (3825 words)

	Bank of United States
		The Bank of the United States (1791-1811) was the first central bank chartered by the U. Congress.
		The bank was headquartered in Philadelphia with branch offices in eight major cities: Baltimore, Boston, Charleston, New York, Norfolk, Washington D. Savannah and New Orleans.
		George Simpson, whose signature also appears on the note, was the bank's cashier 1795-1811 and in that capacity served as the day-to-day manager of the bank.
	www.tomchao.com /ob/ob27.html (336 words)

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