Capitalization Through Stock Sales
- When
- 1789
- Where
- First Congress session
Hamilton proposed funding the bank through $10 million in stock sales, with the United States government purchasing the first $2 million in shares.
According to the plan put before the first session of the First Congress in 1789, Hamilton proposed establishing the initial funding for the First Bank of the United States through the sale of $10 million in stock, of which the United States government would purchase the first $2 million in shares. Hamilton viewed the bank as necessary to stabilize and improve the nation's credit and to handle the government's financial business under the newly enacted Constitution.
Sources
- First Bank of the United States Wikipedia, revision of 2026-09-12
Machine-drafted from the cited Wikipedia passages and checked by a reviewing model, not by a human editor. Every passage cites the revision it was written from; dates and places follow those passages.