. 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.