Chapter eighteen Articles of Association of the Merchants Bank (April 7, 1803) We, the Subscribers, have formed a Company . . . the “Merchants’ Bank.”

Chapters in this book

1. Frontmatter i
2. Contents vii
3. Acknowledgments xi
4. Introduction 1
5. Chapter one To - (December 1779-March 1780) The necessity of a foreign loan is now greater than ever. 9
6. Chapter two To James Duane (September 3, 1780) My ideas of the defects of our present system. 19
7. Chapter three To Robert Morris (April 30, 1781) Banks . . . the happiest engines that ever were invented for advancing trade. 33
8. Chapter four The Continentalist (1781–1782) There is something noble and magnificent . . . a great Federal Republic. 47
9. chapter five Constitution of the Bank of New York (February 23–March 15, 1784) The Bank shall be called . . . the Bank of New York. 59
10. chapter six To Thomas Willing (September 13, 1789) My inviolable attachment to the principles which form the basis of public credit. 66
11. chapter seven Report Relative to a Provision for the Support of Public Credit (January 9, 1790) The debt of the United States . . . was the price of liberty. 69
12. Chapter eight To Wilhem and Jan Willink, Nicholaas and Jacob Van Staphorst, and Nicholas Hubbard (August 28, 1790) The faith of our Government is fully pledged by the laws. 105
13. Chapter nine First Report on the Further Provision Necessary for Establishing Public Credit (December 13, 1790) Most immediately essential . . . is the establishment of funds for paying the interest. 109
14. Chapter ten Second Report on the Further Provision Necessary for Establishing Public Credit (Report on a National Bank, December 14, 1790) A National Bank is an institution of primary importance. 117
15. Chapter eleven Report on the Establishment of a Mint (January 28, 1791) The unit in the coins of the United States . . . a dollar in the money of account. 145
16. Chapter twelve Opinion on the Constitutionality of an Act to Establish a National Bank (February 23, 1791) Every power vested in a Government is in its nature sovereign. 171
17. Chapter thirteen Prospectus of the Society for Establishing Useful Manufactures (August 1791) The establishment of Manufactures [is] of the highest importance. 185
18. Chapter fourteen Report on the Subject of Manufactures (December 5, 1791) The expediency of encouraging manufactures [is] pretty generally admitted. 196
19. Chapter fifteen To William Seton (February 10 and March 22, 1792) The superstructure of Credit is now too vast for the foundation. 223
20. Chapter seventeen The Defense of the Funding System (July 1795) Credit may be called a new power in the mechanism of national affairs. 274
21. Chapter eighteen Articles of Association of the Merchants Bank (April 7, 1803) We, the Subscribers, have formed a Company . . . the “Merchants’ Bank.” 307
22. Conclusion Legacies of the U.S. financial revolution. 317
23. Notes 323
24. Index 329