The bank was originally housed in Carpenters' Hall from 1791
to 1795. The neo-classical design of the bank was intended to recall
the democracy and splendor of ancient Greece.
When
you're there, note the eagle which crowns the two-story portico. At
the time of the bank's creation the eagle had been our national
symbol for only 14 years. The bank building was restored for the
Bicentennial in 1976.
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Oldest bank building in America
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Considered the oldest building in America with a classical facade
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Bank charter was in effect for only 20 years
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It cost $110,168.05 to build!
The
First Bank of the United States was needed because the government
had a 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 colossal
war debt - and to create a standard form of currency.
The
First Bank's charter was drafted in 1791 by the Congress and
signed by George Washington.
Up to the time of the bank's charter,
coins and bills issued by state banks served as the currency of the
young country.
In 1811, Congress voted to abandon the bank and its charter. NOW,
you may ask WHY, did Congress do this? Glad you asked!
A
little history lesson is in order.
Banking
history does not begin with the Federal Reserve System, in
fact, the FRS is a private corporation, but we will get into that
later. The First Bank of the United States was modeled after the Bank
of England, the central bank of the United Kingdom (England).
*NOTE:
Wherever you see names and a number in parenthesis, this
refers to the author name and page number from the source of the information.*
The
Bank met with considerable controversy. Agrarian (farmer) interests
were opposed to the Bank on the grounds that they feared it would
favor commercial and industrial interests over their own, and that
it would promote the use of paper currency at the expense of gold
and silver specie (Kidwell, 54).
Ownership
of the Bank
was also an issue.
By
the time the Bank's charter was up for renewal in 1811, about
70 percent of its stock was owned by foreigners. Although foreign
stock had no voting power to influence the Bank's operations, outstanding
shares carried an 8.4 percent dividend.
Another
twenty year charter, it was argued, would result in about $12 million
in already scarce gold and silver being exported to the bank's
foreign owners (Hixson, 115).
Authors
Note: It
appears from the beginning that the citizens of the United States
knew that paper currency was worthless and they foresaw what their
government was going to do.
Note
that even at this early time the First US Bank was owned by the "international
bankers" and possibly the Illuminati. But at this early time
our founders were listening to the "people".
Secretary
of State Thomas Jefferson believed the Bank was unconstitutional
because it was an unauthorized extension of federal power. Congress,
Jefferson argued, possessed only delegated powers which were specifically
enumerated in the constitution.
The
only possible source of authority to charter the Bank, Jefferson
believed, was in the necessary and proper clause (Art. I, Sec. 8,
Cl. 18). However, he cautioned that if the clause could
be interpreted so broadly in this case, then there was no real limit
to what Congress could do.
Then,
curiously, in the memorandum in which he articulated his thoughts
on this matter, Jefferson advised that if the President felt that
the pros and cons of constitutionality seemed about equal,
then out of respect to the Congress which passed the legislation
the President could sign it (Dunne, 17-19). James Madison said the
Bank was "condemned by the silence of the constitution"
(Symons, 14).
Authors
Note: The Constitution
was still in control at this point, but as you can see there was
pressure almost 200 years ago to ignore it.
Well
we have come to the point whether we realize it or not, the citizens
of the United States no longer have a Constitution. i.e. Dept. of
Home Security (Gestapo) and the ability of the President to issue
Executive Orders at the slightest whim.
Continue
reading it gets even better, it is definitely a conspiracy.
