First US Bank
About First US Bank
The First Bank of the United States was chartered in 1791 for 20 years. Proposed by Alexander Hamilton, it served as a central bank and fiscal agent for the government. Thomas Jefferson and James Madison opposed it as unconstitutional. The bank handled government deposits, issued currency, and regulated state banks. Its charter expired in 1811 by one vote in Congress. The Second Bank of the United States was chartered in 1816 and destroyed by Andrew Jackson in the 1830s. The US would not have a central bank again until the Federal Reserve in 1913, 80 years later.
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