Tax Payments and Post-Opening Controversy
- When
- 1783
- Where
- Bank of North America, Philadelphia
By 1783 several states, including Massachusetts, allowed taxes to be paid in bank notes; postwar economic turmoil later prompted petitions to revoke the Pennsylvania charter.
By 1783, several states including Massachusetts enacted legislation allowing Americans to pay taxes with Bank of North America notes, giving the notes a crucial aspect of legal tender. In the economic turmoil following the American Revolutionary War, the bank's strictness in collecting debts drew opposition from Pennsylvania residents, who petitioned the Pennsylvania General Assembly to revoke the state charter granted in 1782.
Sources
- Bank of North America Wikipedia, revision of 2026-09-28
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