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First National Bank Chartered: Anniversary 1791

February 25th, 2021

The First Bank of the US at Philadelphia, PA, was chartered. Proposed as a national bank by Alexander Hamilton, it lost its charter in 1811. The Second Bank of the US received a charter in 1816, which expired in 1836. Since that time, the US has had no central bank. Central banking functions are carried out by the Federal Reserve System, established in 1913.

Source: www.ushistory.org/tour/first-bank.htm

 
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