The expiration of the charter of the first bank of the united states in 1811 resulted in

1 answer:

7 0

The expiration of the Charter of the First Bank of the United States in 1811 resulted in the sale of governments' shares of stock in the bank and closing it.

Stephen Girard purchased the majority of the stocks of the bank and purchased the building where the bank was located, as well as, the banks furnishings. He reopened the bank premises under the name of Girard Bank. He hired the former cashier of the First Bank of the United States and officially opened its doors for business on 18th May 1812.

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