On This Day
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2nd Bank of US opens in Philadelphia, Pennsylvania

The Second Bank of the United States was the second federally authorized National Bank in the United States, chartered under the Madison administration.

The Second Bank of the United States was the second federally authorized National Bank in the United States, chartered under the Madison administration. Located in Philadelphia, Pennsylvania, the bank was authorized from February 1816 to January 1836. The bank's formal name, according to section 9 of its charter as passed by Congress, was "The President, Directors, and Company, of the Bank of the United States". While other banks in the US were chartered by and only allowed to have branches in a single state, it was authorized to have branches in multiple states and lend money to the US government.

A private corporation with public duties, the bank handled all fiscal transactions for the U.S. government, and was accountable to Congress and the U.S. Treasury.

Historical Significance

The Second Bank of the United States was the second federally authorized National Bank in the United States, chartered under the Madison administration.

Events Before

  1. Gioachino Rossini's comic opera "Barber of Seville" premieres at the Teatro Argentina in Rome, Italy

    The Barber of Seville, or The Useless Precaution is an opera buffa (comic opera) in two acts composed by Gioachino Rossini with an Italian libretto by Cesare Sterbini.

  2. Dutch (King) Willem II marries Russian grand-duchess Anna Paulowna

    Dutch (King) Willem II marries Russian grand-duchess Anna Paulowna

  3. Leading Romantic poet Lord Byron signs Deed of Separation dissolving his marriage with Lady Byron at her request after 1

    Leading Romantic poet Lord Byron signs Deed of Separation dissolving his marriage with Lady Byron at her request after 1 year of marriage

  4. Léopold (Léopold I)of Saxe-Coburg, 1st King of Belgium following independence from the Netherlands marries British Princ

    Léopold (Léopold I)of Saxe-Coburg, 1st King of Belgium following independence from the Netherlands marries British Princess Charlotte Augusta

  5. English Romantic poet Percy Bysshe Shelley (24) marries 2nd wife writer "Frankenstein" Mary Godwin (19) and daughter of

    English Romantic poet Percy Bysshe Shelley (24) marries 2nd wife writer "Frankenstein" Mary Godwin (19) and daughter of early feminist writer Mary Wollstonecraft

Events After

  1. Battle of Maipú: Chile's independence movement, led by Bernardo O'Higgins and José de San Martín, wins a decisive victor

    Battle of Maipú: Chile's independence movement, led by Bernardo O'Higgins and José de San Martín, wins a decisive victory over Spain, leaving 2,000 Spaniards and 1,000 Chilean patriots dead

  2. English poet John Keats writes "In the Cottage Where Burns is Born," "Lines Written in the Highlands," and "Gadfly"

    English poet John Keats writes "In the Cottage Where Burns is Born," "Lines Written in the Highlands," and "Gadfly"

  3. Inventor Samuel Morse (27) weds Lucretia Walker in Concord, New Hampshire

    Inventor Samuel Morse (27) weds Lucretia Walker in Concord, New Hampshire

  4. Padded gloves designed by Jack Broughton are first used in a competitive boxing match between two unnamed English boxers

    Padded gloves designed by Jack Broughton are first used in a competitive boxing match between two unnamed English boxers at Aix-la-Chapelle in France

  5. Lord Byron completes the fourth canto of his long narrative poem "Childe Harold's Pilgrimage"

    Childe Harold's Pilgrimage: A Romaunt is a long narrative poem in four parts written by Lord Byron. The poem was published between 1812 and 1818.

More from the 1810s

Leading Romantic poet Lord Byron (27) marries Anne Isabella Milbanke (22) by special licence, at Seaham Hall in County D

Leading Romantic poet Lord Byron (27) marries Anne Isabella Milbanke (22) by special licence, at Seaham Hall in County Durham

Field Marshal Blücher's troops cross the Rhine at Kaub

Field Marshal Blücher's troops cross the Rhine at Kaub

US Vice President John C. Calhoun (28) weds Floride Bonneau (19)

US Vice President John C. Calhoun (28) weds Floride Bonneau (19)

French church annuls marriage of Napoleon I and Empress Joséphine

Joséphine Bonaparte was the first wife of Emperor Napoleon I and as such Empress of the French from 18 May 1804 until their marriage was annulled on 10 January 1810.

Frequently Asked Questions

What happened on January 7, 1817?
The Second Bank of the United States was the second federally authorized National Bank in the United States, chartered under the Madison administration. Located in Philadelphia, Pennsylvania, the bank was authorized from February 1816 to January 1836. The bank's formal name, according to section 9 of its charter as passed by Congress, was "The President, Directors, and Company, of the Bank of the United States".
Why is 2nd Bank of US opens in Philadelphia, Pennsylvania significant?
The Second Bank of the United States was the second federally authorized National Bank in the United States, chartered under the Madison administration.

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January 7 in HistoryYear 1817