First Bank of the United States
GPTKB entity
Statements (187)
| Predicate | Object |
|---|---|
| gptkbp:instance_of |
gptkb:Bank
|
| gptkbp:assets |
$10 million
$2 million |
| gptkbp:associated_with |
gptkb:Federalists
|
| gptkbp:banking_authority |
Federal banking authority
|
| gptkbp:banking_challenges |
Faced numerous banking challenges.
|
| gptkbp:banking_competition |
local banks
faced competition from state banks Faced competition from state banks |
| gptkbp:banking_expansion |
contributed to banking expansion in the U. S.
|
| gptkbp:banking_innovation |
introduced new banking practices
Introduced new banking practices |
| gptkbp:banking_legacy |
Set precedent for future banks
legacy of federal banking. |
| gptkbp:banking_legislation |
led to future banking legislation
|
| gptkbp:banking_partnerships |
formed partnerships with other banks
|
| gptkbp:banking_reforms |
Influenced banking reforms in the U. S.
|
| gptkbp:banking_structure |
Established banking structure in the U. S.
|
| gptkbp:banking_system_evolution |
led to modern banking.
|
| gptkbp:banknotes_issued |
gptkb:First_U._S._banknotes
|
| gptkbp:branch |
29
|
| gptkbp:capital |
$10 million
stockholders |
| gptkbp:capitalization |
$10 million
|
| gptkbp:certification |
gptkb:U._S._Congress
gptkb:Banking_Act_of_1791 gptkb:United_States_Congress February 25, 1791 |
| gptkbp:charter_duration |
20 years
|
| gptkbp:closing_date |
1811
|
| gptkbp:closure_type |
political opposition
political opposition and charter expiration |
| gptkbp:conflict |
1792
liquidity provision Contributed to financial stability Provided liquidity during crises helped mitigate early financial crises |
| gptkbp:controversy |
political opposition
Debate over federal vs. state banking powers Opposition from Thomas Jefferson |
| gptkbp:currency |
gptkb:U._S._dollar
gptkb:coins Banknotes stabilization set by the bank U. S. Dollar Set interest rates for loans |
| gptkbp:currency_issuance |
yes
|
| gptkbp:demand_for_services |
increased during war
|
| gptkbp:dissolved |
1811
Political opposition |
| gptkbp:economic_impact |
Standardized currency
Facilitated government transactions Promoted economic growth Influenced economic policy decisions influenced U. S. monetary policy Facilitated government loans |
| gptkbp:economic_policy |
fiscal responsibility
Influenced monetary policy influenced early economic policy |
| gptkbp:established |
1791
|
| gptkbp:federal_reserve |
predecessor to modern banking system
|
| gptkbp:financial_aid |
gptkb:private_sector
|
| gptkbp:financial_legacy |
Legacy of central banking in the U. S.
|
| gptkbp:financial_stability |
promoted
promoted economic growth Promoted economic growth |
| gptkbp:financials |
gptkb:Bank
gptkb:coins deposits Depository services loans payment processing currency issuance commercial banking Promoted financial literacy issued banknotes Investment in government securities Issuance of banknotes Promissory notes promoted financial literacy Depository for federal funds Standardized banking operations Foundation of U. S. banking system Issued banknotes and loans Key player in U. S. banking history fractional reserve banking established modern banking practices foundation of the U. S. banking system pivotal in U. S. banking history Loans to businesses |
| gptkbp:founded |
1791
|
| gptkbp:founder |
gptkb:Alexander_Hamilton
gptkb:Robert_Morris |
| gptkbp:funding |
Received government deposits
managed federal funds |
| gptkbp:government |
federal oversight
|
| gptkbp:headquarters |
gptkb:Philadelphia
|
| gptkbp:historical_analysis |
economic impact studies
|
| gptkbp:historical_context |
Post-Revolutionary War America
post-Revolutionary War |
| gptkbp:historical_documentation |
bank charter documents
|
| gptkbp:historical_figure |
gptkb:Alexander_Hamilton
gptkb:George_Washington |
| gptkbp:historical_significance |
gptkb:First_federally_chartered_bank
Facilitated trade and commerce Contributed to financial stability First central bank in the U. S. Influenced monetary policy first federal bank first national bank in the U. S. Debate over federal power Foundation for modern banking Impact on state banks Precedent for future bank charters Promoted public confidence in banking Role in War of 1812 financing |
| https://www.w3.org/2000/01/rdf-schema#label |
First Bank of the United States
|
| gptkbp:impact |
U. S. economy
|
| gptkbp:influenced |
U. S. banking system
|
| gptkbp:is_opposed_by |
gptkb:Democratic-Republicans
|
| gptkbp:is_respected_by |
struggled with public trust issues
|
| gptkbp:is_set_in |
gptkb:Bank_of_North_America
|
| gptkbp:legacy |
Set precedent for federal banking
Influenced future banking legislation influence on future banks inspired future banking institutions Established central banking concept Influenced future banking systems |
| gptkbp:legislation |
gptkb:Bank_Act_of_1791
gptkb:Banking_Act_of_1791 gptkb:Banking_Act_of_1816 Banking Act |
| gptkbp:location |
gptkb:Philadelphia,_Pennsylvania
|
| gptkbp:notable_artifact |
government funds
|
| gptkbp:notable_event |
gptkb:financial_panic_of_1792
gptkb:First_bank_run_in_U._S._history |
| gptkbp:notable_figures |
gptkb:Alexander_Hamilton
gptkb:Robert_Morris gptkb:John_Jacob_Astor gptkb:William_Jones gptkb:Samuel_Osgood |
| gptkbp:operates_under |
gptkb:Federal_Reserve_Act
|
| gptkbp:operational_challenges |
political opposition
|
| gptkbp:operational_period |
20 years
1791-1811 |
| gptkbp:operational_use |
commercial banking
Private-public partnership |
| gptkbp:political_position |
limited oversight
Managed federal funds |
| gptkbp:president |
gptkb:Robert_Morris
gptkb:Thomas_Willing |
| gptkbp:provides_oversight_for |
Oversaw state banking activities
|
| gptkbp:public_perception |
controversial
mixed reactions Mixed support and opposition |
| gptkbp:purpose |
stabilize the economy
Serve as a national bank stabilizing the economy |
| gptkbp:recharter_attempt |
Failed in 1811
failed in 1811 |
| gptkbp:rechartered |
no
|
| gptkbp:regulatory_compliance |
gptkb:U._S._federal_government
monetary policy Set standards for banking practices set precedents for future laws |
| gptkbp:significance |
gptkb:First_federally_chartered_bank_in_the_U._S.
|
| gptkbp:significant_event |
First charter renewal attempt
First Bank's charter renewal debate Second charter renewal attempt |
| gptkbp:stock_exchange |
influenced early stock market development
|
| gptkbp:stockholders |
private investors
|
| gptkbp:strategic_importance |
government funding
Facilitated trade and commerce Stabilized U. S. currency |
| gptkbp:successor |
gptkb:Second_Bank_of_the_United_States
|
| gptkbp:trade_goods |
mercantilism
supported mercantilism |
| gptkbp:type |
gptkb:Partnerships
National bank |
| gptkbp:bfsParent |
gptkb:First_Congress
gptkb:Second_Bank_of_the_United_States gptkb:Federalist_Party gptkb:Bank_of_the_United_States gptkb:the_Second_Bank_of_the_United_States gptkb:the_Bank_of_the_United_States |
| gptkbp:bfsLayer |
4
|