The Second Bank of the United States

The Second Bank of the United States, a federally authorized national bank, began its operations on this day, January 7th, 1817, in Philadelphia.

Named as such, because it was the second federally authorized Hamiltonian national bank in the United States.  It was chartered by President James Madison in 1816.

It was a private corporation that handled all fiscal transactions for the U.S. Government, and was accountable to Congress and the U.S. Treasury.

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