The First Bank of the U.S. was created by Congress in 1791 to control currency and credit. It was needed because the government had debt from the Revolutionary War, and each state had a different form of currency. It was built while Philadelphia was still the nation's capital. Alexander Hamilton conceived of the bank to handle the country's war debt — and to create a standard currency.
Its first home was at Carpenters' Hall, where it rented space until 1797, when it moved into its own building, erected between 1795-97, from designs of Samuel Blodgett, Jr. The original plan called for a building constructed entirely of marble, but to economize, brick was used on the rear and sides.
After Congress failed to renew the Bank's 20 year charter in 1811, the building was sold to Stephen Girard, who headquartered his own bank there for 20 years. Girard helped to finance the United States in the War of 1812 and funded the 2nd Bank of the U.S. He died in 1831, the wealthiest man in the country, bequeathing to the city the bulk of his estate of over $6 million (including the First Bank building). In 1832 the First Bank building was rented to a newly chartered state bank named Girard Bank (unrelated to Stephen Girard's bank), which remained until 1926. In 1954, the federal government purchased the First Bank building for the National Park Service.
The First Bank of the U.S. was listed on the National Register of Historic Places on October 15, 1966, and was then declared a National Historic Landmark on May 4, 1987. It is an early masterpiece of monumental Classical Revival design and is the oldest bank building in the country.
1800 1859 1939
1960's
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