The establishment of the first bank in the United States of America 1791-1812 AD

Section: Research Paper
Published
Jun 24, 2025
Pages
533-566

Abstract

When the Europeans arrived to America at the end of fifteenth century, they took advantage of the natural resources and imposed their strict economic regulations on the European colonists, especially Britain, which imposed an economic system on its colonies. It prevented the issuance of currency, exporting and importing any product without obtaining a royal decree authorizing it to do so. As a result of this policy and after a series of events, the colonies announced the rebellion against the British Crown in 1775 A.D. Those colonies fought a war against British forces, but the colonial forces were not sufficiently organized and lacked funding, as the revolutionaries did not have the sufficient financial means and in spite of this, the revolution won and the need to establish a financial institution that undertakes to organize the economic affairs of the country emerged. President George Washington entrusted this task to Alexander Hamilton, who prepared a report in which he proposed the establishment of a national bank and sent it to Parliament on December 14 of 1790 A.D. Congress studied this proposal and passed it after lengthy discussions that continued for weeks on February 8, 1791 A.D. Keywords: relations, militarism, politics.

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How to Cite

Mahmoud Alou Al-Samarrai, A., أحمد, Namis Daham Al Douri, I., إدریس, Qahtan Rajab Al Douri, F., & فؤاد. (2025). The establishment of the first bank in the United States of America 1791-1812 AD. Adab Al-Rafidayn, 51(85), 533–566. https://doi.org/10.33899/radab.2021.168326