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The Second Bank of the United States was the second federally authorized Hamiltonian national bank in the United States. Located in Philadelphia, Pennsylvania, the bank was chartered from February 1816 to January 1836. [1] The bank's formal name, according to section 9 of its charter as passed by Congress, was "The President, Directors, and ...
Nicholas Biddle. Nicholas Biddle (January 8, 1786 – February 27, 1844) was an American financier who served as the third and last president of the Second Bank of the United States (chartered 1816–1836). [1] Throughout his life Biddle worked as an editor, diplomat, author, and politician who served in both houses of the Pennsylvania state ...
Banking in the Jacksonian Era. The Second Bank of the United States opened in January 1817, six years after the First Bank of the United States lost its charter. The Second Bank of the United States was headquartered in Carpenter's Hall, Philadelphia, the same as the First Bank, and had branches throughout the nation.
Bank War. The Bank War was a political struggle that developed over the issue of rechartering the Second Bank of the United States (B.U.S.) during the presidency of Andrew Jackson (1829–1837). The affair resulted in the shutdown of the Bank and its replacement by state banks. The Second Bank of the United States was established as a private ...
The Federal Reserve System is the third central banking system in United States history. The First Bank of the United States (1791–1811) and the Second Bank of the United States (1817–1836) each had a 20-year charter. Both banks issued currency, made commercial loans, accepted deposits, purchased securities, maintained multiple branches and ...
The history of Bank of America dates back to October 17, 1904, when Amadeo Pietro Giannini (1870–1949) founded the Bank of Italy, in San Francisco. [14] In 1922, Bank of America, Los Angeles was established with Giannini as a minority investor.
Transamerica Corporation. Bank of America, formerly known as the Bank of Italy, was founded in San Francisco, California, United States, on October 17, 1904, [1] by Amadeo Pietro Giannini. By 1945, it had grown by a branch banking strategy to become the world's largest commercial bank with 493 branches in California and assets totaling $5 billion.
A second major issue was the economy, which had entered a slump late in Jefferson's second term. [15] Gallatin favored renewing the bank's charter since it served as an important source of capital and a safe place to deposit government funds, especially in tough economic times.