First Bank of the US

THE FIRST BANK OF THE UNITED STATES. The first United States Bank was chartered by Congress in 1791. Its capital was $10,000,000, to be paid, one-fourth in cash, the rest in bonds of the United States. The charter was to run for twenty years. It issued no bills under $10. Other banks were now formed very rapidly. The following list is given by Gouge, though he says that it is not full: Banks Banks Banks chartered. chartered. chartered. 1792 8 1799 3 1806 4 1793 3 1800 2 1807 9 1794 O 1801 3 1808 I 1795 5 1802 4 1809 3 1796 1 1803 15 1810 8 1797 o 1804 10 1811 n 1798 o 1805 4 1812 19 60 HISTORY OF AMERICAN CURRENCY. COINAGE. In 1794 the first silver was actually coined, the dollar weighing 416 grs., 1485 parts pure to 179 parts alloy. Its pure contents were, therefore, 371.25 grs. Gold was first coined in 1795, the eagle weighing 270 grs., -]-£- fine, so that one dollar contained 24.75 grs. pure gold. It will be observed that where two metals are thus made legal tender, and there is both a silver " dollar"