This foot note contained in document PJA12d145
3. The Bank of North America was incorporated on 31 Dec. 1781 (
, 21:1187–1190). For Robert Morris’ establishment of the bank, his use of it to finance the government’s operations, and his success in having the bank’s notes pass at par with specie, see E. James Ferguson, The Power of the Purse: A History of American Public Finance, 1776–1790
, Chapel Hill, 1961, p. 135–139.
Cite web page as: Founding Families: Digital Editions of the Papers of the Winthrops and the Adamses, ed.C. James Taylor. Boston: Massachusetts Historical Society, 2007.