Bank of the United States (1791-1811): Boston Branch (Boston, Mass.) records, 1792-1794

About this Collection

Creator
Bank of the United States (1791-1811) , Boston Branch (Boston, Mass.)
Collection Title
Bank of the United States (1791-1811)
Language
English
Origin
Massachusetts
Description
3 linear ft. (2 v.).
Repository
Baker Library, Harvard Business School, Harvard University
Identifier
colonialnorthamerica.library.harvard.edu/990112948490203941

Content Notes

The collection consists of two volumes, which date from 1792 to 1794. Volume one is a ledger that includes account information for individuals, businesses, state and national offices that did business with the Boston branch of the first Bank of the United States. Volume two is a discount bill book for the Boston branch, which dates from August 5, 1793 to November 6, 1794. Discount was the term used for bank loans. The following information was recorded for each entry: date, number of days to be paid, promissor, to whom payable, second endorser, by whom presented, time when due, number of days discounted, amount each, of note, when discharged, discount, sum to be paid.
  • Also available in an electronic version.

Biographical Notes

The first Bank of the United States was chartered by Congress in 1791. Subscriptions for the bank were soon in high demand throughout the country and the need for local branches soon became apparent. The Boston branch of the Bank of the United States was established in 1792. A number of prominent American businessmen had accounts with the Boston branch. They include Ebenezer Storer, Thomas Amory, Oliver Wendell, John Kean (who was also the cashier of the Philadelphia branch of the bank,) Nathaniel Appleton, Samuel Breck, Samuel Otis, and John Coffin Jones, among others. The Boston branch was forced to liquidate its affairs and pay off its stockholders when Congress declined to renew the bank's charter in 1811.