What is First Bank of the United States?
{{no sources|date=March 2024}} The First Bank of the United States was the country's first national bank, established in 1791. The bank did not perform the functions of a central bank, such as regulating private banks or setting monetary policy. Its primary purpose was to stabilize and improve the nation's credit and handle the financial business of the US government. The bank's establishment was part of a three-part expansion of federal fiscal and monetary power, championed by [[Alexander Hamilton]], first Secretary of the Treasury. The bank's establishment faced resistance from opponents of increased federal power, including [[Thomas Jefferson]] and [[James Madison]]. The bank's charter expired in 1811, and it was succeeded by the Second Bank of the United States. The bank building is a [[National Historic Landmark]] located in [[Philadelphia]], Pennsylvania, and is currently closed to the public, with plans to reopen as a [[museum]] in 2026. ==References== {{reflist}} [[Category:1791 establishments in the United States]] [[Category:Banks of the United States]] [[Category:Buildings and structures in Philadelphia]] [[Category:National Historic Landmarks of the United States]]