Morris's Plan and Congressional Charter
- When
- May 17–26, 1781
- Where
- Philadelphia, Pennsylvania
Robert Morris presented a banking plan in May 1781, drawing on Hamilton's recommendations, and Congress chartered the bank on May 26, 1781.
On May 17, 1781, Superintendent of Finance Robert Morris presented a plan for the bank's establishment that included recommendations by Alexander Hamilton. Hamilton had earlier recommended Morris for the finance superintendency. Morris persuaded Congress to charter the Bank of North America, the first private commercial bank in the United States, and the Congress of the Confederation issued the charter on May 26, 1781.
Sources
- Bank of North America Wikipedia, revision of 2026-09-28
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