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74-707: The museum is located at 101 South Third St. in Philadelphia, the city that served as the revolutionary capital during America's founding. The site is across the street from the First Bank of the United States and two blocks from Independence Hall , the National Constitution Center , Second Bank of the United States , American Philosophical Society , Carpenters' Hall , and the Liberty Bell . The museum owns

148-562: A lender of last resort . They were national insofar as they were allowed to have branches in multiple states and lend money to the US government. Other banks in the US were each chartered by, and only allowed to have branches in, a single state. Establishment of the Bank of the United States was part of a three-part expansion of federal fiscal and monetary power, along with a federal mint and excise taxes, championed by Alexander Hamilton , first Secretary of

222-481: A collection of several thousand objects including artwork and sculpture, textiles and weapons, manuscripts, and rare books. Permanent and special exhibition galleries, theaters and large-scale tableaux portray the individuals and events and engage people in the history and continuing relevance of the American Revolution. Philadelphia area media entrepreneur and philanthropist Gerry Lenfest served as chairman of

296-434: A cross-vaulted ticketing lobby, a multi-use theater and a changing exhibition gallery. The second floor features 18,000 square feet of galleries and a theater dedicated to the exhibition of George Washington 's marquee tent. The museum's third floor offers rooms for events and two terraces overlooking the First Bank of the United States , Independence National Historical Park , and the Philadelphia skyline beyond. The museum

370-615: A full-scale replica of Boston's Liberty Tree , the recreation of an Oneida Indian Council, the Battlefield Theater featuring the Battle of Brandywine , a recreation of Independence Hall , and a large model of an 18th-century privateer ship. A dedicated theater houses an iconic surviving artifact of the Revolution: General Washington's Headquarters Tent, which served as both his office and sleeping quarters throughout much of

444-525: A major journal of history scholarship covering all historical topics since ancient history and Perspectives on History , the monthly news magazine of the profession. In 2006 the AHA started a blog focused on the latest happenings in the broad discipline of history and the professional practice of the craft that draws on the staff, research, and activities of the AHA. The association's annual meeting each January brings together more than 5,000 historians from around

518-461: A suggestion he had made nearly a year before—increase the duty on imported spirits, plus raise the excise tax on domestically distilled whiskey and other liquors. Local opposition to the tax led to the Whiskey Rebellion . Jefferson's views: "Hamilton's financial system had then passed. It had two objects; 1st, like a puzzle, to exclude popular understanding and inquiry; 2nd, as a machine for

592-427: Is led to look at matters historically, has some mental equipment for a comprehension of the political and social problems that will confront him in everyday life, and has received practical preparation for social adaptation and for forceful participation in civic activities.... The pupil should see the growth of the institutions which surround him; he should see the work of men; he should study the living concrete facts of

666-512: Is seeking Leadership in Energy and Environmental Design (LEED) Silver certification. The museum's outdoor plaza opened on September 25, 2016. It is accessible to both museum visitors and to passersby, and features dramatic installations of Revolutionary War artifacts, bronze sculpture, shaded seating, and seasonal café seating. When the museum opened to the public on April 19, 2017, it garnered largely positive reviews. Professional historians praised

740-437: Is the first Black woman to hold that post. From its founding, the association was largely managed by historians employed at colleges and universities, and served a critical role in defining their interests as a profession. The association's first president, Andrew Dickson White , was president of Cornell University , and its first secretary, Herbert Baxter Adams , established one of the first history Ph.D. programs to follow

814-602: Is the major learned society for historians working in the United States, while the Organization of American Historians is a field society for historians who study and teach about the United States. The AHA's congressional charter of 1889, established it "for the promotion of historical studies, the collection and preservation of historical manuscripts, and for kindred purposes in the interest of American history, and of history in America." AHA operates as an umbrella organization for

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888-407: Is typically a collaborative effort, does not necessarily rely on primary research, is more democratic in participation, and does not aspire to absolute "scientific" objectivity. Historical museums, documentary editing, heritage movements and historical preservation are considered public history. Though activities now associated with public history originated in the AHA, these activities separated out in

962-956: The American Alliance of Museums (AAM) 2018 PA Museums' Institutional Award for Washington's War Tent 2018 American Association for State and Local History Award of Merit 2018 Institute of Classical Architecture's Stanford White Award in the category of commercial, civic, and institutional architecture 2019 PA Museums Special Achievement Award for Revolution Place discovery center 2019 American Alliance of Museums (AAM) Award for Sustainability 2019 American Association for State and Local History Award for Revolution Place discovery center 2020 American Association for State and Local History Award for Hamilton Was Here special exhibit 2020 PA Museums Special Achievement Award for Hamilton Was Here special exhibit 2021 Bronze-level American Alliance of Museums (AAM) MUSE Award for “Finding Freedom” Online Experience 2021 Webby Awards honoree for

1036-562: The American Historical Association , Organization of American Historians , National Council on Public History , Society for Historians of the Early American Republic , and Berkshire Conference of Women Historians , criticized the museum for hosting the group. Local groups Act Up Philadelphia, Defense of Democracy, and AFSCME District Council 47 organized days-long protests against the summit's hosts, including

1110-444: The War of Independence , an extensive collection of historic firearms and edged weapons, important art, important manuscripts, and rare books. The collection started by Rev. W. Herbert Burk in the early 1900s makes up the core of the collection. Some items have been displayed at George Washington's Mount Vernon , Valley Forge National Historical Park , the National Constitution Center ,

1184-752: The Winterthur Museum , the Senator John Heinz History Center and the North Carolina Museum of History . Highlights include: 2012 MUSE Award (Silver level) from the American Alliance of Museums in the category of Mobile Applications, recognizing the museum's American Revolution Interactive Timeline iPad app. 2017 Pennsylvania Historic Preservation Award in the category of Preservation Planning for Washington's War Tent 2017 nominee for Leading Cultural Destinations Award 2017 – “The Museum Oscars” – for Best New Cultural Destination of

1258-704: The "Bank of Stephen Girard." Girard was the sole proprietor of his bank, and thus avoided the Pennsylvania state law which prohibited an unincorporated association of persons from establishing a bank, and which required a charter from the legislature for a banking corporation. 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. Design of

1332-465: The 1930s due to differences in methodology, focus, and purpose. The foundations of public history were laid on the middle ground between academic history and the public audience by National Park Service administrators during the 1920s–30s. The academicians insisted on a perspective that looked beyond particular localities to a larger national and international perspective, and that in practice it should be done along modern and scientific lines. To that end,

1406-513: The AHA Council before 1971 (out of over 186 members), and in the Association’s first 100 years only one woman, Nellie Neilson , had been elected to the presidency [in 1943]. By 1973 an assistant executive secretary had been appointed for the specific purpose of dealing with such problems. Thavolia Glymph was elected president of the AHA for the term beginning in 2024. The 140th president, she

1480-470: The Association, Women and minorities were officially accepted into the Association from the beginning, but enjoyed little or no representation at the Association’s meetings and in the governing structure. No African Americans were represented on the AHA governing Council until 1959, and it would be another 20 years before John Hope Franklin was elected president of the AHA. Similarly, only 15 women served on

1554-565: The First Bank of the United States, as cashier of the new bank, and with seven other employees, opened for business on May 18, 1812. He allowed the Trustees of the First Bank of the United States to use some offices and space in the vaults to continue the process of winding down the affairs of the closed bank at a nominal rent. Over its early history the bank was known as "Girard's Bank," or as "Girard Bank" or also as "Stephen Girard's Bank" or even

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1628-506: The Museum of the American Revolution confirmed that it had rented its facilities for the opening ceremony for Moms for Liberty 's national summit in Philadelphia, eliciting protests against the museum. Thirty-nine staffers signed a petition condemning museum leadership for sanctioning the event, arguing the reception was "endangering the safety" of LGBTQ workers and "damaging the museum’s reputation." Professional historical organizations, including

1702-566: The Museum’s redesigned website, AmRevMuseum.org 2021 American Association for State and Local History Award for Cost of Revolution special exhibit 2021 PA Museums Special Achievement Award for Cost of Revolution special exhibit 2021 Philadelphia Business Journal ’s Faces of Philanthropy Award for Citizenship Initiative 2022 Silver-Level Anthem Award from The Webby Awards for “Finding Freedom” Online Experience 2022 American Association for State and Local History Award for When Women Lost

1776-527: The States (or the people). Additionally, his belief was that if the Constitution's writers had wanted Congress to have such power, they would have made it explicit. The decision would ultimately fall on President George Washington , following his deliberate investigation of the cabinet members' opinions. George Washington initially declared that he was hesitant to sign the "bank bill" into law. Washington asked for

1850-609: The Treasury . Hamilton believed a national bank was necessary to stabilize and improve the nation's credit, and to improve handling of the financial business of the United States government under the newly enacted Constitution . The First Bank building, located in Philadelphia , Pennsylvania , within Independence National Historical Park , was completed in 1797, and is a National Historic Landmark for its historic and architectural significance. Alexander Hamilton

1924-699: The United States The President, Directors and Company of the Bank of the United States , commonly known as the First Bank of the United States , was a national bank , chartered for a term of twenty years, by the United States Congress on February 25, 1791. It followed the Bank of North America , the nation's first de facto national bank. However, neither served the functions of a modern central bank : They did not set monetary policy , regulate private banks, hold their excess reserves , or act as

1998-431: The United States to discuss the latest research and discuss how to be better historians and teachers. Many affiliated historical societies hold their annual meetings simultaneously. The association's web site offers extensive information on the current state of the profession, tips on history careers, and an extensive archive of historical materials (including the G.I. Roundtable series), a series of pamphlets prepared for

2072-498: The Vote special exhibition 2022 PA Museums Special Achievement Award for When Women Lost the Vote special exhibition 2022 Philadelphia Business Journal ’s Faces of Philanthropy Award for African American Interpretive Program partnership with Comcast NBCUniversal 2023 PA Museum’s Special Achievement Award for Liberty special exhibit 2023 Webby Awards Nominee for Virtual Tour of Washington’s Field Headquarters First Bank of

2146-593: The War Department in World War II . The association also administers two major fellowships, 24 book prizes, and a number of small research grants. The early leaders of the association were mostly gentlemen with the leisure and means to write many of the great 19th-century works of history, such as George Bancroft , Justin Winsor , and James Ford Rhodes . However, as former AHA president James J. Sheehan points out,

2220-700: The Year, North America 2017 Communication Arts 2017 Design Annual Awards for the museum's digital interactives by Bluecadet 2017 Award of Merit from the British Guild of Travel Writers 2017 Engineering News-Record ’s Best Projects 2017 Award of Merit in the Cultural/Worship Category 2017 ACE 2017 URBAN PROJECT OF THE YEAR. 2018 Excellence in Exhibition Award for Special Achievement for engaging audiences in something they think they know in new ways from

2294-550: The association actively promoted excellence in the area of research, the association published a series of annual reports through the Smithsonian Institution and adopted the American Historical Review in 1898 to provide early outlets for this new brand of professional scholarship. In 1896, the association appointed a "Committee of Seven" to develop a national standard for college admission requirements in

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2368-485: The association always tried to serve multiple constituencies, "including archivists , members of state and local historical societies, teachers, and amateur historians, who looked to it – and not always with success or satisfaction – for representation and support." Much of the early work of the association focused on establishing a common sense of purpose and gathering the materials of research through its Historical Manuscripts and Public Archives Commissions. According to

2442-412: The association, other areas and activities tended to fall by the wayside. The Manuscripts and Public Archives Commissions were abandoned in the 1930s, while projects related to original research and the publication of scholarship gained ever-greater prominence. In recent years, the association has tried to come to terms with the growing public history movement and has struggled to maintain its status as

2516-486: The bank building is credited to Samuel Blodgett, Superintendent of Buildings for the new capital in Washington, DC., although it has also been attributed to James Hoban . It was completed in 1797 and was the first building specifically for the new federal government. The First Bank of the United States has received various designations as a historic building. It was included in Independence National Historical Park when

2590-416: The bank unconstitutional. While Hamilton's rebuttals were many and varied, chief among them were these two: On February 25, 1791, convinced that the constitution authorized the measure, Washington signed the "bank bill" into law. On March 19, 1791 Washington appointed three Commissioners for the taking of subscriptions for this new bank: Thomas Willing , David Rittenhouse , and Samuel Howell . Willing

2664-466: The bill for funding and paying these, Hamilton made no difference between the original holders and the fraudulent purchasers of this paper." — Thomas Jefferson , February 4 entry in The Anas Hamilton's bank proposal faced widespread resistance from opponents of increased federal power. Secretary of State Thomas Jefferson and James Madison led the opposition, which claimed that the bank

2738-428: The bill, the concept, and establishment of a national mint, met with no real objection, and sailed through; it was assumed the second and third part (the bank and an excise tax to finance it) would likewise glide through, and in their own way they did: The House version of the bill, despite some heated objections, easily passed. The Senate version of the bill did likewise, with considerably fewer, and milder, objections. It

2812-418: The birth of our government, some members were found sordid enough to bend their duty to their interests, and to look after personal rather than public good. It is well known that during the war the greatest difficulty we encountered was the want of money or means to pay our soldiers who fought, or our farmers, manufacturers, and merchants, who furnished the necessary supplies of food and clothing for them. After

2886-452: The board of directors from 2005 until 2016 and was instrumental in launching the museum in 2017. Dr. R. Scott Stephenson was named president and CEO in November 2018. Morris W. Offit serves as the museum's current chairman. The building was designed by Robert A.M. Stern Architects (RAMSA), and on June 12, 2012, RAMSA partner and Driehaus Prize winner Robert A. M. Stern unveiled designs for

2960-589: The building and develop a museum about the early American economy, planned to open in 2026. American Historical Association The American Historical Association ( AHA ) is the oldest professional association of historians in the United States and the largest such organization in the world. Founded in 1884, AHA works to protect academic freedom, develop professional standards, and support scholarship and innovative teaching. It publishes The American Historical Review four times annually, which features scholarly history-related articles and book reviews. AHA

3034-427: The corruption of the legislature; for he avowed the opinion, that man could be governed by one of two motives only, force or interest; force, he observed, in this country was out of the question, and the interests, therefore, of the members must be laid hold of, to keep the legislative in unison with the executive. And with grief and shame, it must be acknowledged that his machine was not without effect; that even in this,

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3108-429: The discipline of history, and works with other major historical organizations and acts as a public advocate for the field. Within the profession, the association defines ethical behavior and best practices, particularly through its "Statement on Standards of Professional Conduct". AHA also develops standards for good practice in teaching and history textbooks. The association publishes The American Historical Review ,

3182-457: The editor. Each issue also reviewed a number of history books for their conformity to the new professional norms and scholarly standards that were taught at leading graduate schools to Ph.D. candidates. From the AHR, Sheehan concludes, "a junior scholar learned what it meant to be a historian of a certain sort". Meringolo (2004) compares academic and public history. Unlike academic history, public history

3256-420: The existing state of government finances, more money was needed. This could be achieved either by selling the government's shares of stock in the bank or by raising taxes. Wolcott advised the first choice. Congress quickly agreed. Hamilton objected, believing that the dividends on that stock had been inviolably pledged for the support of the sinking fund to retire the debt. Hamilton tried to organize opposition to

3330-467: The expedient of paper money had exhausted itself, certificates of debt were given to the individual creditors, with an assurance of payment so soon as the United States should be able. But the distresses of these people often obliged them to part with these for the half, the fifth, and even a tenth of their value; and speculators had made a trade of cozening them from the holders by the most fraudulent practices, and persuasions that they would never be paid. In

3404-420: The federal government—a depository for collected taxes, making short-term loans to the government to cover real or potential temporary income gaps, serving as a holding site for both incoming and outgoing monies—was considered highly important but still secondary in nature. There were other, non-negotiable conditions for the establishment of the First Bank of the United States. Among these were: To ensure that

3478-526: The field of history. Before this time, individual colleges defined their own entrance requirements. After substantial surveys of prevailing teaching methods, emphases and curricula in secondary schools, the Committee published "The Study of History in Schools" in 1898. Their report largely defined the way history would be taught at the high school level as a preparation for college, and wrestled with issues about how

3552-415: The field should relate to the other social studies. The Committee recommended four blocks of Western history, to be taught in chronological order—ancient, medieval and modern European, English, and American history and civil government—and advised that teachers "tell a story" and "bring out dramatic aspects" to make history come alive. [T]he student who is taught to consider political subjects in school, who

3626-445: The government could meet both the current and future demands of its governmental accounts, an additional source of funding was required, "for interest payments on the assumed state debts would begin to fall due at the end of 1791...those payments would require $ 788,333 annually, and... an additional $ 38,291 was needed to cover deficiencies in the funds that had been appropriated for existing commitments." To achieve this, Hamilton repeated

3700-467: The institutions of which they speak. The association also played a decisive role in lobbying the federal government to preserve and protect its own documents and records. After extensive lobbying by AHA Secretary Waldo Leland and Jameson, Congress established the National Archives and Records Administration in 1934. As the interests of historians in colleges and universities gained prominence in

3774-506: The law of the Constitution. Secretary of State Thomas Jefferson argued that the bank violated traditional property laws and that its relevance to constitutionally authorized powers was weak. Another argument came from James Madison, who believed Congress had not received the power to incorporate a bank or any other governmental agency. His argument rested primarily on the Tenth Amendment: that all powers not endowed to Congress are retained by

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3848-466: The measure but was unsuccessful. In 1816, the bank was succeeded by the Second Bank of the United States . After the charter for the First Bank of the United States expired in 1811, Stephen Girard purchased most of its stock as well as the building and its furnishings on South Third Street in Philadelphia and opened his own bank, later known as Girard Bank . Girard hired George Simpson, the cashier of

3922-449: The museum for providing an in-depth and accessible account of the revolution's warfare, social milieu, and ongoing legacy. Jennifer Schuessler for The New York Times commended the museum's treatment of the revolution's complicated legacy and its focus on the role of the common man. Edward Rothstein for The Wall Street Journal penned a more mixed review, appreciating the museum's historical strength but faulting it for "de-sacralizing"

3996-614: The museum in The Philadelphia Inquirer , arguing it "has a responsibility to defend the history and practice of American democracy, not harbor those who seek to destroy it." Conversely, the Foundation for Individual Rights and Expression praised the museum for staying “faithful to its mission of strengthening democracy through dialogue.” Jonathan Zimmerman also praised the museum in The Philadelphia Inquirer , saying that “protesters’ attempts to silence Moms for Liberty by canceling

4070-452: The museum opened a new exhibit, "Black Founders: The Forten Family of Philadelphia." The 5000-square-foot exhibit centers around James Forten , a Black Founding Father and abolitionist , and his family's push for voting rights and civil liberties for African Americans. The Museum of the American Revolution has a collection of several thousand objects. The museum's collection includes items owned and used by General George Washington during

4144-419: The museum. The museum ultimately held the event on Thursday, June 29, which featured an address by Tim Barton, president of WallBuilders and son of David Barton . During the conference, hundreds of protestors demonstrated across the city with more than fifty protesting outside the museum. The museum's decision-making spurred broader debates about history, democracy, and freedom of speech. Jen Manion lambasted

4218-611: The new German seminary method at Johns Hopkins University . The clearest expression of this academic impulse in history came in the development of the American Historical Review in 1895. Formed by historians at a number of the most important universities in the United States, it followed the model of European history journals. Under the early editorship of J. Franklin Jameson , the Review published several long scholarly articles every issue, only after they had been vetted by scholars and approved by

4292-615: The park was formed in 1956. The building's architecture was studied by the Historic American Buildings Survey in 1958. With the rest of Independence National Historical Park, it was listed on the National Register of Historic Places on October 15, 1966, and the bank was then declared a National Historic Landmark on May 4, 1987. It is described in the landmark designation as an early masterpiece of monumental Classical Revival design. The building has been closed to

4366-417: The past; he should know of nations that have risen and fallen; he should see tyranny, vulgarity, greed, benevolence, patriotism, self-sacrifice, brought out in the lives and works of men. So strongly has this very thought taken hold of writers of civil government, that they no longer content themselves with a description of the government as it is, but describe at considerable length the origin and development of

4440-490: The permanent location. Groundbreaking for the museum occurred in fall 2014. The museum rises three stories above the street and, with a full basement, encompasses 118,000 total square feet, with 32,000 dedicated to exhibits and interpretive spaces. The first floor includes a museum shop and the Cross Keys Café which opens to the sidewalk. The first floor interior is organized around a skylit central interior court and features

4514-709: The project include: Richard Beeman (University of Pennsylvania), Vincent Brown (Harvard University), Thomas Chavez (National Hispanic Cultural Center), Thomas J. Fleming (writer and novelist), James Hattendorf (US Naval War College), Don Higginbotham (University of North Carolina), Pauline Maier (Massachusetts Institute of Technology), Holly Mayer (Duquesne University), Thomas McGuire (Malvern Preparatory School), David McCullough (Yale University), Gary Nash (University of California, LA), Ray Raphael (University of California, Berkeley), Matthew Spooner (Columbia University), Laurel Thatcher Ulrich (Harvard University), and Gordon S. Wood (Brown University). In February 2023,

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4588-544: The public since the 1970s. Until about 2000, the building housed offices for Independence National Historical Park. A proposal to have it house the collection of the Philadelphia Civil War Museum was abandoned when funding from the state of Pennsylvania was not forthcoming. In June 2023, Independence National Historical Park received $ 22 million from the Great American Outdoors Act to renovate

4662-534: The public, both in the United States and overseas. The chief requirement of these non-government purchases was that one-quarter of the purchase price had to be paid in gold or silver; the remaining balance could be paid in bonds, acceptable scrip, etc. Unlike the Bank of England , the primary function of the bank would be to issue credit to the government and private interests, for internal improvements and other economic development, per Hamilton's system of Public Credit . The business would be involved in on behalf of

4736-413: The revolution. George Will for The National Review lauded the museum for celebrating the revolution while also examining its violence. In a review of the museum's building, Inga Saffron for The Philadelphia Inquirer praised the exhibits but criticized its take on Georgian architecture , noting the spacious, largely empty rooms were likely designed for the museum to host private events. In 2023,

4810-431: The sale of $ 10 million in stock of which the United States government would purchase the first $ 2 million in shares. Hamilton, foreseeing the objection that this could not be done since the U.S. government did not have $ 2 million, proposed that the government purchase the stock using money lent to it by the bank; the loan to be paid back in ten equal annual installments. The remaining $ 8 million of stock would be available to

4884-456: The state for the protection of its rights and interests, and the latter facilitates and extends the operations of commerce amongst individuals. — Alexander Hamilton, December 1790 report to George Washington According to the plan put before the first session of the First Congress in 1790, Hamilton proposed establishing the initial funding for the First Bank of the United States through

4958-692: The war. The museum's president and CEO, formerly the Vice President of Collections, Exhibitions, and Programming, Dr. R. Scott Stephenson holds an M.A. and Ph.D. in American History from the University of Virginia . Stephenson is a specialist in colonial and revolutionary American history and material culture with a background in visual storytelling. Dr. Philip C. Mead , Chief Historian and Curator, holds an M.A. and PhD in American History from Harvard University . Other historians who have been consulted on

5032-606: The welcome event also violates the mission of the museum.” Visitors follow a chronological journey from the roots of conflict in the 1760s to the rise of armed resistance, the Declaration of independence of 1776 through the final years of the war. Visitors see the diversity of revolutionary-era Americans and their opinions, for example by viewing an Oneida Indian council house, and the 1773 volume Poems on Various Subjects by Phillis Wheatley , America's first published black female poet. Several immersive gallery experiences feature

5106-442: The written advice and supporting reasons from all his cabinet members—most particularly from Hamilton. Attorney General Edmund Randolph from Virginia felt that the bill was unconstitutional. Jefferson, also from Virginia, agreed that Hamilton's proposal was against both the spirit and letter of the Constitution. Hamilton, who, unlike his fellow cabinet members, came from New York, quickly responded to those who claimed incorporation of

5180-475: Was later elected as President on October 25, 1791, until he resigned due to ill health on November 10, 1807. The bank's Philadelphia branch opened its doors on December 12, 1791. Willing was succeeded by David Lenox, serving until the expiration of its charter on March 4, 1811. After Hamilton left office in 1795, the new Secretary of the Treasury Oliver Wolcott Jr. informed Congress that, due to

5254-436: Was mostly to the benefit of business interests in the commercial north, not southern agricultural interests, arguing that the right to own property would be infringed by these proposals. Furthermore, they contended that the creation of such a bank violated the Constitution, which specifically stated that Congress was to regulate weights and measures and issue coined money (rather than mint and bills of credit). The first part of

5328-441: Was the first Secretary of the Treasury. In addition to sponsoring a national bank, Hamilton's other measures included an assumption of the state war debts by the U.S. government, establishment of a mint and imposition of a federal excise tax. The goals of Hamilton's measures were to: In simpler words, Hamilton's four goals were to: The tendency of a national bank is to increase public and private credit. The former gives power to

5402-450: Was unconstitutional, and that it benefited merchants and investors at the expense of the majority of the population. Like most of the Southern members of Congress, Jefferson and Madison also opposed a second of the three proposals of Hamilton: establishing an official government Mint. They believed this centralization of power away from local banks was dangerous to a sound monetary system and

5476-520: Was when "the two bills changed houses, complications set in. In the Senate, Hamilton's supporters objected to the House's alteration of the plans for the excise tax." The establishment of the bank also raised early questions of constitutionality in the new government. Hamilton, then Secretary of the Treasury, argued that the bank was an effective means to utilize the authorized powers of the government implied under

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