On December 31, 1781, the Confederation Congress granted a charter to the Bank of North America, often considered the first bank in the United States. The institution, based in Philadelphia, grew out of wartime efforts to stabilize American finance during the Revolutionary War. It served as a de facto national bank by helping manage government funds, support public credit, and facilitate trade. The bank’s creation signaled a move toward more organized financial institutions in the new nation. Its operations influenced later debates about national banking and monetary policy. The charter marked an important step in building the economic infrastructure of the United States.
