jan 18, 1791 - 1st Bank of The United States

Description:

Proposed by Alexander Hamilton and signed by George Washington, the 1st bank of the United States was put in place to serve as a place for federal funds and act as the governments fisical agent. The bank was needed in the United States because the U.S was still in debt because of the Revolutionary War. In 1811, the 1st bank failed because of controversy and was not chartered again.