Bank of Pennsylvania
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Bank of Pennsylvania
The Bank of Pennsylvania was established on July 17, 1780, by Philadelphia merchants to provide funds for the Continental Army during the American Revolutionary War. Within a year after the Union was founded in 1781, the Bank of North America superseded the Bank of Pennsylvania.[1]
In 1793, the Bank of Pennsylvania was re-established, with a charter from the Commonwealth of Pennsylvania, and branches were opened in Pittsburgh, Harrisburg, Lancaster, Reading, and Easton.[2] The bank later collapsed in September 1857, with Thomas Allibone of the family firm Thomas Allibone & Co. serving as its president.[3]
The only remaining piece of the bank — one of the stone pillars — was moved to Adrian, Michigan, and erected as the Civil War Memorial in commemoration of those in Adrian who died in the American Civil War.[4]
References
- ^ Kaplan, Edward S. (1999). The Bank of the United States and the American Economy. Greenwood Publishing. pp. 11–12.
- ^ Klein, Philip Shriver; Ari Hoogenboom (1973). A History of Pennsylvania. Penn State Press. pp. 223.
- ^ History of the Friendly Sons of St. Patrick and the Hibernian Society for the Relief of Emigrants from Ireland, John Hugh Campbell, Hibernian Society, 1892
- ^ State of Michigan (2009). "Civil War Memorial". http://www.mcgi.state.mi.us/hso/sites/8626.htm. Retrieved June 1, 2010.
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