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[2] [3] The Report, submitted on December 14, 1790, [2] [3] called for the establishment of a central bank, its primary purpose to expand the flow of legal tender by monetizing the national debt [4] [5] through the issuance of federal bank notes. [6]
The report analyzed the financial standing of the United States and made recommendations to reorganize the national debt and to establish the public credit. [2] Commissioned by the US House of Representatives on September 21, 1789, the report was presented on January 9, 1790, [3] at the second session of the 1st US Congress. [4]
[2] [3] Submitted on December 14, 1790, [2] [3] the report called for the establishment of a central bank with the primary purpose to expand the flow of legal tender, monetizing the national debt [4] [5] by issuing of federal bank notes.
Jefferson, Thomas (December 13, 1790). "Introductory Note: Second Report on the Further Provision Necessary for Establishing Public Credit (Report on a National Bank), [13 December 1790]". Founders Online. U.S. National Archives and Records Administration. Hamilton, Alexander (December 13, 1790). "Final Version of the Second Report on the ...
The First Bank of the United States was established in Philadelphia, Pennsylvania, while the city served as the national capital, from 1790 to 1800. The bank began operations in Carpenters' Hall in 1791, some 200 feet from its permanent home. Branches opened in Boston, New York, Charleston, and Baltimore in 1792, followed by branches in Norfolk ...
Hamilton, Alexander (December 13, 1790). "Final Version of the Second Report on the Further Provision Necessary for Establishing Public Credit (Report on a National Bank), 13 December 1790". Founders Online. U.S. National Archives and Records Administration. Madison, James (February 2, 1791). "The Bank Bill, 2 February 1791". Founders Online. U ...
The Compromise of 1790 was a compromise among Alexander Hamilton, Thomas Jefferson, and James Madison, where Hamilton won the decision for the national government to take over and pay the state debts, and Jefferson and Madison obtained the national capital, called the District of Columbia, for the South.
Pages in category "1790 documents" The following 5 pages are in this category, out of 5 total. ... Report on a National Bank; S. Second Report on Public Credit