Description:

1791 "Gazette of the United States" on the Bank Bill Under Review by Congress

4pp of a bifolium, measuring 10" x 16.5", Philadelphia, dated February 26, 1791. An issue of the "Gazette of the United States", No. 87 of Volume II, Whole No. 191, containing an account of the Bank Bill under consideration in the House of Representatives. Published by John Fenno. The paper has been signed at the top margin of the front page, "J Huntington." The paper has flattened folds, and light toning and soiling at the edges. Minor foxing throughout. Slightly rough left edge. Overall, very good.

In part:

"Little doubt remains with respect to the utility of Banks. It seems to be conceded within doors and without, that a public Bank would be useful to trade, that it is almost essential to revenue, and that it is little short of indispensable necessity in times of public emergency. In countries whose forms of government left them free to chuse [sic], this institution has been adopted of choice, and in times of national danger and calamity it has afforded such aid to government as to make it appear, in the eyes of the people, a necessary means of self preservation…"

The Bank Bill of 1791 refers to two bills that were passed by the First Congress of the United States on February 25 and March 2 of 1791. The bill established that a "bank of the United States" shall be granted limited legal rights to manage national finance, obtain loans for the federal government in emergencies, and to promote trade and industry. One of the greatest supporters of the bill was Alexander Hamilton, who, as Secretary of the Treasury, believed that a federal bank would not only benefit but be essential to the new country's national economy.

This item comes with a Certificate from John Reznikoff, a premier authenticator for both major 3rd party authentication services, PSA and JSA (James Spence Authentications), as well as numerous auction houses.

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