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Creating the Bank of the United States...



Item # 669532 THE UNIVERSAL ASYLUM & COLUMBIAN MAGAZINE, Philadelphia, February, 1791 

* First Bank of the United States creation

Certainly the most notable content is at the back where is found a significant report headed: Congress of the United States" with the text of the creation of the Bank of the United States.
It is titled: "An Act to Incorporate the Subscribers to the Bank of the United States", the text taking 3 1/2 pages and is signed in italic type by the President: George Washington, as well as by the Vice President: John Adams.
Establishment of the Bank of the United States was part of a three-part expansion of federal fiscal and monetary power, along with a federal mint and excise taxes, championed by Alexander Hamilton, first Secretary of the Treasury. Hamilton believed a national bank was necessary to stabilize and improve the nation's credit, and to improve handling of the financial business of the United States government under the newly enacted Constitution (Wikipedia)
Among other items in this issue are the continued: "History of the Life & Character of Benjamin Franklin, L.L.D."; the continuation of the: "History of the American Revolution" "A New Dialogue of the Dead; Between Major_____ of the late Continental Army, and Cudjoe, formerly an African Slave" & much more.
Complete in 62 pages, 5 by 8 1/4 inches, half title page (lacking the title/contents page), nice condition.
Note: The back leaf, containing no news reports, is present in photocopy. Also an error in page numbering near the back seems to indicate a leaf is missing. It is not.

This title has the honor of being the first successful American magazine, having begun in September, 1786 and lasting until December, 1792.

Category: The 1600's and 1700's