What was the Fuss over the National Bank?
gsilver at berkeley.edu
Tue Jun 27 19:15:30 PDT 2006
Just to add a bit of obscure trivia ... the first chartered bank in Virgnia
was the Bank of Alexandria -- charted by the General Assembly of Virginia in
1792, reputed to be the third oldest chartered bank in the United States
(ie, post 1789). One article I saw notes that the bank collapsed in 1834
largely thanks to heavy investments in a canal deal structured by none other
than George Washington (the Potowmack Canal Co.) That company failed, and
was taken over by the C&O Canal Co. some years later.
- Gordon Silverstein
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