Second National Bank v. First National Bank, 242 U.S. 600 (1917) Second National Bank of Cincinnati, Ohio v. First National Bank of Okeana, Ohio. Second Bank of the United States for kidsJames Madison was the 4th American President who served in office from March 4, 1809 to March 4, 1817. Map & Directions. This cartoon mcoked president Andrew Jackson for. 140. Once again the United States was faced with another colossal war debt. On January 1, 1896, Second National Bank absorbed Home National Bank. "; Decided February 5, 1917. The Bank of the United States building was described by Charles Dickens in a chapter of his 1842 travelogue American Notes for General Circulation, Philadelphia, and its solitary prison: We reached the city, late that night. Add Hours. Ratner, Sidney, James H. Soltow, and Richard Sylla. Despite its generally successful operation it was defeated in a renewal attempt in 1811, on account of political considerations. "; Saved to Favorites. When its charter expired in 1836, the Second Bank ended its operations as a national institution. The central bank was required to remit a "bonus" payment of $1.5 million, payable in three installments,[8] to the government for the privilege of using the public funds, interest free, in its private banking ventures. The following James Madison video will give you additional important facts and dates about the political events experienced by the 4th American President whose presidency spanned from March 4, 1809 to March 4, 1817. Treasury. BBB Rating: A+ (937) 548-2122. [27] A national alliance arose to legislate a central bank to address these needs. The Second Bank of the United States was created in 1816. Old Second National Bank currently operates with 28 branches located in Illinois as a subsidiary of Old Second Bancorp, Inc.. [63] Public perceptions of the central bank were generally positive. ERROR TO TEE SUPERIOR COURT OF CINCINNATI, STATE OF OHIO Syllabus. Second National Bank of Saginaw is not active anymore since 1996-06-01 due to Merger - Without Assistance. var months = new Array(12); 242 U.S. 600. Walters Jr, Raymond. Old Second National Bank Aurora (FV Mall) 8:00 AM - 6:00 PM 8:00 AM - 6:00 PM 8:00 AM - 6:00 PM Closed Today 8:00 AM - 6:00 PM 8:00 AM - … Alliance Data has announced the acquisition of Bread (posted on Nov 3, 2020). ● Interesting Facts about the Second Bank of the United States for kids and schools● The British and Americans and the Second Bank of the UnitedStates● The Second Bank of the United States, a Important event in US history● James Madison Presidency from March 4, 1809 to March 4, 1817● Fast, fun, interesting facts about the Second Bank of the United States● Foreign & Domestic policies of President James Madison● James Madison Presidency and the Second Bank of the United States for schools, homework, kids and children. Latrobe and Strickland were both disciples of the Greek Revival style. silver and gold coin, the pressure for settlement automatically regulated local banking lending: for the more the local banks lent the larger amount of their notes and checks in use and the larger the sums they had to settle in specie. Nearby Old Second Bank Locations and Advisors in. Banks Commercial & Savings Banks Financing Services. 750 Chestnut St. Greenville, OH 45331. Second National Bank is located at 2951 National Pike in Uniontown, PA - Fayette County and is a business with Accountants on staff. Click here to learn about Old Second's preparedness and additional information.. For Drive-thru hours and lobby hours and instructions, please visit our Locations page.. The Bank suspended payment in 1839 and was liquidated in 1841. Inflation surged ever upward due to the ever-increasing amount of notes issued by … An exhibit on Peale's museum is in a side room. "; [5][13], Modeled on Alexander Hamilton's First Bank of the United States,[14] the Second Bank was chartered by President James Madison in 1816 and began operations at its main branch in Philadelphia on January 7, 1817,[15][16] managing twenty-five branch offices nationwide by 1832. This can be seen in the more Roman-influenced Federal structure's ornate, colossal Corinthian columns of its façade, which is also embellished by Corinthian pilasters and a symmetric arrangement of sash windows piercing the two stories of the façade. [58], Under Biddle's guidance, the BUS evolved into a powerful banking institution that produced a strong and sound system of national credit and currency. One of the important events during his presidency was the establishment of the Second Bank of the United States, The need to establish the Second Bank of the United States. var current_date = new Date(); month_value = current_date.getMonth(); day_value = current_date.getDate(); year_value = current_date.getFullYear(); document.write( months[month_value] ); Second Bank of the United States - United States History - Banking - Andrew Jackson - Second - Facts - Second Bank of the United States - Definition - American - US - USA History - War of 1812 - Terms - Results - Significance - America - Dates - United States - War of 1812 - Terms - Results - Significance - Kids - Children - Schools - Homework - Important - Facts - Issues - United States History - Banking - Andrew Jackson - Second - Facts - History - Interesting - United States History - Banking - Andrew Jackson - Second - Facts - United States - Info - Information - American History - Facts - Historical - Important Events - Second Bank of the United States, was the 4th American President who served in office from March 4, 1809 to March 4, 1817. History of the Second Bank of the United States for kids: War of 1812The need to establish the Second Bank of the United States arose quickly when the War of 1812 erupted beginning on June 18, 1812 and lasting for 2 years and 8 months ending when the Treaty of Ghent was signed on December 24, 1814. 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". Originally built to be the Second Bank of the United States, the building now draws visitors to gaze upon the faces of the "People of Independence". Check below for important events in banks history. [55] The effects were catastrophic, resulting in a protracted recession with mass unemployment and a sharp drop in property values that persisted until 1822. 108 Main Ave SW, Warren, OH 44481 (330) 841-0289. The American System was a broad economic plan aimed at improving the economy of the US. The government needed to pay its war debts and create a climate in which American trade would flourish by providing money and credit to the industrialists. He also designed the New Orleans, Dahlonega, and Charlotte branch mints in the mid-to-late 1830s, as well as the second building for the main U.S. Mint in Philadelphia in 1833. Specie was jealously hoarded. Plans were initially formulated in 1814 by James J. Dallas, secretary of the treasury, Second Bank History Fact 3: It began operations at its main branch in Philadelphia on January 7, 1817. Old Second National Bank. 3. Second National Bank. Second National Bank is an Ohio Registered Trade Name filed on August 15, 2008. The headquarter was located at 101 North Washington Avenue, Saginaw, MI 48607. OTTAWA — The second-in-command at the Bank of Canada is moving up her departure date to next month. [11][12] The federal deposits endowed the BUS with its regulatory capacity. the Federal Reserve System, which is still in existence today. Po Box 499. months[3] = " Locate all of the popular, fast and interesting websites uniquely created and produced by the Siteseen network. Multi Location Business Find locations. The building's exterior uses Pennsylvania blue marble, which, due to the manner in which it was cut, has begun to deteriorate due to weak parts of the stone being exposed to the elements. Drawing on our rich, 145+ year history, Old Second understands opportunity and how to seize it. [32] The charter was signed into law by James Madison on April 10, 1816. Second National Bank v. First National Bank, 242 U.S. 600 (1917) Second National Bank of Cincinnati, Ohio v. First National Bank of Okeana, Ohio. Second National Bank, Division of The Park National Bank. Second Bank History Fact 15: The Panic of 1819 was followed by a steep recession that saw unemployment soar, interest rates spike and the prices of farm goods plummet, Second Bank History Fact 17: A wealthy politician from Philadelphia called Nicholas Biddle, who had already served on the Board of Directors, was elected to replace Langdon Cheves, Second Bank History Fact 19: In 1824 its new building was opened at 420 Chestnut Street in Philadelphia. Website (419) 375-4101. Second National Bank 800 N Main St Celina OH 45822. Headquartered in Philadelphia with branches throughout the states, it was the country's only truly national … We look forward to taking care of you and giving you the personal attention you deserve! Old Second National Bank was established on Nov. 21, 1887. The First Bank of the United States had been established by Congress at the urging of Alexander Hamilton in 1791. [9] In its time, the institution was the largest monied corporation in the world. Nearby Old Second Bank Locations and Advisors in. Many politicians objected to the position played by the private sector in its operations believing it should be under complete government control. The Second Bank of the United StatesThe name 'Bank of the United States' was given to the two national banks established by the U.S. Congress to serve as government fiscal (financial) agents and as depositories (stores) for federal funds. Sylvia Balogh. Save job. [60] Albert Gallatin, former Secretary of the Treasury under Thomas Jefferson and James Madison, wrote in 1831 that the BUS was fulfilling its charter expectations. a system of state-run banks, serving businesses but not individuals. "; Be the first to review! One of the important events during his presidency was the establishment of the Second Bank of the United States that played an important role in the economic plan referred to as Henry Clay's American System. Reviews (419) 375-4101 Website. Since settlement by the local banks was in specie i.e. 203, 205, Schlesinger, 1945, pp. Today, it is part of Independence National Historical Park in Philadelphia. Po Box 499. When the 20 year charter was up, Congress would be required to approve or deny renewal of its charter. Headquartered in Aurora, IL, it … Jackson's stubborn skepticism about banks escalated into a highly personal battle between the president of the country and the president of the bank, Nicholas Biddle. Old Second National Bank Frankfort (Rt 45 & St Francis) is a community bank dedicated to serving the current and future needs of the families and businesses that make up … 8215 E Market St. Warren, OH 44484. Old Second National Bank Aurora, IL 6 days ago Be among the first 25 applicants. months[8] = " Get fast, free facts and information on a whole host of subjects in the Siteseen network of interesting websites. blocking the renewal of the Second National Bank. 2. Running for reelection, Jackson made his anti-bank stance a critical issue of his campaign and handily defeated opponent Henry Clay. Hammond, Bray. months[4] = " Explore the interesting, and fascinating selection of unique websites created and produced by the Siteseen network. [105] It was just this mechanism that the local private banks found objectionable, because it yoked their lending strategies to the fiscal operations of the national government, requiring them to maintain adequate gold and silver reserves to meet their debt obligations to the U.S. ERROR TO TEE SUPERIOR COURT OF CINCINNATI, STATE OF OHIO Syllabus OLD SECOND RESPONDS - COVID-19 RELIEF PROGRAM. months[5] = " Uncover a wealth of facts and information on a variety of subjects produced by the Siteseen network. [45] Simultaneously, the national bank was engaged in promoting a democratized expansion of credit to accommodate laissez-faire impulses among eastern business entrepreneurs and credit hungry western and southern farmers. 204–205, Hammond, 1947, p. 149, Wilentz, 2008, pp. No. Banks. Menu & Reservations Make Reservations . [8], As exclusive fiscal agent for the federal government,[99] it provided a number of services as part of its charter including: holding and transfer of all U.S. deposits, payment and receipt of all government transactions, and processing of tax payments. [34], Opposition to the bank's revival emanated from two interests. The bulk of the stocks were held by a few hundred wealthy Americans. Strickland looked to the Parthenon in Greece as his muse, borrowing its blank pediments and Doric columns. "; Second National Bank's routing number (the leftmost number on the bottom of a check) is 42204123. OLD SECOND RESPONDS - COVID-19 RELIEF PROGRAM. Please use this contact information to get in touch with us. [53], Resigning in January 1819,[54] Jones was replaced by Langdon Cheves who continued the contraction in credit in an effort to stop inflation and stabilize the bank, even as the economy began to correct. "The Jacksonian Persuasion". 1953. Our associates are available and happy to help you any time. [33] Subsequent efforts by Calhoun and Clay to earmark the bank's $1.5 million establishment "bonus", and annual dividends estimated at $650,000, as a fund for internal improvements, were vetoed by President Madison, on strict constructionist grounds. Reviews (419) 268-0049 Website. The main phone number for Second National Bank is 937-548-2122. Second Bank History Fact 23: In 1833 President Andrew Jackson ordered all federal government deposits to be removed from the Second Bank of the United States and deposited into state banks. Second Bank History Fact 25: Nicholas Biddle attempted to keep the institution going as a commercial bank, but the project failed and closed in 1841. © 2020 - Old Second National Bank • (630) 892-0202 • Privacy policy • Member FDIC • Equal Housing Lender "; Decided February 5, 1917. Get directions, reviews and information for Second National Bank in Celina, OH. Banks Commercial & Savings Banks Financing Services. Sometimes, banks have multiple routing numbers for different branches or uses. Please contact the business for updated hours/services due to the COVID-19 advisory. The Second Bank of the United States was chartered for many of the same reasons as its predecessor, the First Bank of the United States. CONTACT SECOND NATIONAL BANK. Verify Second National Bank employees. Second Bank History Fact 5: The United States government owned 20% of its capital but Second Bank of the United States while private investors owned the rest  - it was still a privately held banking corporation. Website (937) 316-5048. The Second Bank of the United States earned its place in history in 1832 when President Andrew Jackson vetoed a bill seeking to re-charter the bank because he viewed it as an unconstitutional monopoly. [7][8] Four thousand private investors held 80% of the bank's capital, including three thousand Europeans. Banks Mortgages Loans. Interesting History Facts about the History of the Second Bank of the United States are detailed below. Old Second National Bank is committed to protecting your privacy and ensuring your private information is secure. [74][75] Clay's political ultimatum to Jackson[76]—with Biddle's financial and political support[77][78]—sparked the Bank War[79][80] and placed the fate of the BUS at center of the 1832 presidential election. The First Bank of the United States was in existence from 1791 to 1811. Second Bank of the United States After five years, the federal government chartered ... National bank notes were not however "lawful tender", and could not be used as bank reserves under the National Bank Act. Visit our office today to speak with one of our helpful team members or to open a new account! [5][89], In hopes of extorting a rescue of the bank, Biddle induced a short-lived financial crisis[58][90] that was initially blamed on Jackson's executive action. Facade of the Second National Bank building inside Independence National Park in Philadelphia Pennsylvania. Hoping it would help the nation recover from the war of 1812. Facts about the History of the Second Bank of the United States for kids, Second Bank History Fact 1: Its twenty year charter ran from February 1816 to January 1836. Two of the three BUS presidents, William Jones and Nicholas Biddle, were chosen from among these government directors. The Second Bank of the United States was in existence from 1816 to 1836. months[0] = " Discover the vast range of useful, leisure and educational websites published by the Siteseen network. You can look at the address on the map. "; a system of state-run banks, serving individuals but not businesses. Historian Bray Hammond describes the mechanism by which the Bank exerted its anti-inflationary influence: Receiving the checks and notes of local banks deposited with the [BUS] by government collectors of revenue, the [BUS] had constantly to come back on the local banks for settlements of the amounts which the checks and notes called for. The roofline is also topped by a balustrade and the heavy modillions adorning the pediment give the First Bank an appearance much more like a Roman villa than a Greek temple. This was an easy and popular denomination for national banks. A few months before the permit was set to expire, the bank voluntarily liquidated and reorganised in 1882 as the Second National Bank. [104], Under this banking regime, the impulse towards over speculation, with the risks of creating a national financial crisis, would be avoided, or at least mitigated. Argued January 25, 1917. Our associates are available and happy to help you any time. Agences pour OLD SECOND NATIONAL BANK en United States. Second Bank of the United States. Government land sales in the West, fueled by European demand for agricultural products, ensured that a speculative bubble would form. The War of 1812 had left a formidable debt. Banks Commercial & Savings Banks … [108] This phenomenon is most visible on the Doric columns of the south façade. This loss of specie reduced their power to lend. The Second Bank of the United States dominated Jackson's second term, and is easily the most controversial series of events of his presidency. Looking out of my chamber-window, before going to bed, I saw, on the opposite side of the way, a handsome building of white marble, which had a mournful ghost-like aspect, dreary to behold. 6749 Tod Ave SW. Warren, OH 44481. months[2] = " Check out the interesting and diverse websites produced and created by the international publisher in the Siteseen network. The Bank handled the finances of the U.S. government, controlled the federal currency, and operated as a commercial bank, making loans to businesses and individuals. Second Bank of the United StatesThe info about the Second Bank of the United States continues with interesting facts and important information about this important event that occured during the presidency of the 4th President of the United States of America. The U.S. Supreme Court had affirmed the constitutionality of the bank under McCulloch v. Maryland, the 1819 case which Daniel Webster had argued successfully on its behalf a decade earlier,[62] the U.S. Treasury recognized the useful services it provided, and the American currency was healthy and stable. The entry leads into two central rooms, one after the other, that span the width of the structure east to west. Banks Mutual Funds. "; Old Second National Bank Sycamore (Rt 23 and DeKalb Ave) is a community bank dedicated to serving the current and future needs of the families and businesses that make up the communities in which we live and work. However, some types and denominations of currency from this bank could still be rare. Jackson's veto of the charter extension for the Second National Bank prompted the creation of the whig party. [38] The proliferation of private-sector banking institutions – from 31 banks in 1801 to 788 in 1837[106] – meant that the Second Bank faced strong opposition from this sector during the Jackson administration.[15]. [64][65] The bank first came under attack by the Jackson administration in December 1829, on the grounds that it had failed to produce a stable national currency, and that it lacked constitutional legitimacy. The Bank War was a long and bitter struggle waged by President Andrew Jackson in the 1830s against the Second Bank of the United States, a federal institution that Jackson sought to destroy. The First Bank of the United States was in existence from 1791 to 1811. 4. On top of these, Strickland placed eight severe Doric columns, which are crowned by an entablature containing a triglyph frieze and simple triangular pediment. [52] Further, it transpired that branch directors for the Baltimore office had engaged in fraud and larceny. Is this your business? Second National Bank. We look forward to taking care of you and giving you the personal attention you deserve! months[6] = " The Siteseen network is dedicated to producing unique, informative websites on a whole host of educational subjects. Whereas other central banks of that era were wholly private, the BUS was more characteristic of a government bank. It certainly did seem rather dull and out of spirits. [28][29], The political climate[28]—dubbed the Era of Good Feelings[30]—favored the development of national programs and institutions, including a protective tariff, internal improvements and the revival of a Bank of the United States[14][26][31] Southern and western support for the bank, led by Republican nationalists John C. Calhoun of South Carolina and Henry Clay of Kentucky was decisive in the successful chartering effort. 242 U.S. 600. The Second Bank of the United States was part of a plan to reach these goals. The Greek Revival style used for the Second Bank contrasts with the earlier, Federal style in architecture used for the First Bank of the United States, which also still stands and is located nearby in Philadelphia. Second National Bank  Add to Favorites. [107] The hallmarks of the Greek Revival style can be seen immediately in the north and south façades, which use a large set of steps leading up to the main level platform, known as the stylobate. Second National Bank Building (Houston, Tex. Michael J Kozak EVP and Chief Credit Officer at Old Second National Bank. Apply on company website Save. "Jackson, Biddle, and the Bank of the United States". 491. [70], Biddle made repeated overtures to Jackson and his cabinet to secure a compromise on the bank's rechartering (its term due to expire in 1836) without success. Second National Bank, Division of The Park National Bank. The crew explores 2 banks alongside The Haunted Apartments. Banks Commercial & Savings Banks Investments. Reviews (419) 268-0049 Website. The building was designated a National Historic Landmark in 1987 for its architectural and historic significance.[107]. Second National Bank; CCPA. The Second National Bank is situated in New York city, next door to Harman's Department Store. [71][72] Jackson and the anti-bank forces persisted in their condemnation of the BUS,[66][73] provoking an early recharter campaign by pro-bank National Republicans under Henry Clay. Accédez aux publications, aux photos et plus encore sur Facebook. Strickland went on to design many other American public buildings in this style, including financial structures such as the Mechanics National Bank (also in Philadelphia). Check out the Siteseen network of educational websites. The Second Bank of the United States was in existence from 1816 to 1836. Matthew St. Calvin Jhonson and Jamar Grant, Wilentz, 2008, pp. [100] In other words, the BUS was "the depository of the federal government, which was its principal stockholder and customer". Website (937) 316-5048. blocking the renewal of the Second National Bank. It was the Tomb of many fortunes; the Great Catacomb of investment; the memorable United States Bank. [101], The chief personnel for the bank comprised twenty-five directors, five of whom were appointed by the President of the United States, subject to Senate approval. [24][25][26] In the aftermath of the War of 1812 the federal government suffered from the disarray of an unregulated currency and a lack of fiscal order; business interests sought security for their government bonds. The east and west sides of the first large room are each pierced by large arched fan window. Old Second National Bank, Aurora, Illinois. Killenbeck, Mark R. "M'Culloch v. Maryland: Securing a Nation". The Second National Bank Of Meyersdale also printed 3,948 individual notes from the type2 1929 $5 national bank note series. Twenty percent of its capital was owned by the federal government, the bank's single largest stockholder. ", This page was last edited on 14 November 2020, at 08:10. months[9] = " Looking for accurate facts and impartial information? Second National Bank, Division of The Park National Bank. No. The Second Bank of the United States, located in Philadelphia, Pennsylvania, was the second federally authorized Hamiltonian national bank in the United States during its 20-year charter from February 1816 to January 1836. Second Bank History Fact 7: The institution was answerable to the US Treasury and Congress and subject to Treasury Department inspection, Second Bank History Fact 9: It was initially headquartered in Carpenters' Hall, Philadelphia, the same as the First Bank, Second Bank History Fact 11: The first president of the institute was William Jones, a political appointee who had gone bankrupt. 11–12, Dangerfield, 1966, p. 10–11, Wellman, 1966, p. 92, Hammond, 1947, p. 149, Hammond, 1947, p. 149, Hammond, 1957, p. 9, Hammond, 1947, p. 149-150, Wilentz, 2008, p. 205, Hofstadter, 1948, p. 56, U.S. National Register of Historic Places, Learn how and when to remove this template message, History of central banking in the United States, List of National Historic Landmarks in Philadelphia, National Register of Historic Places listings in Center City, Philadelphia, The Bank of the United States Credit Principle circa 20 minute mark onward, "NHL nomination for Second Bank of the United States", "Historic Philadelphia Tour: Second Bank of the United States", "American Notes for General Circulation pg 81, by Charles Dickens", Internal Improvements and the Union, 1790–1860, Studies in American Political Development, Documents produced by the Second Bank of the United States, Andrew Jackson on the Web : Bank of the United States, Notes of Debates in the Federal Convention of 1787, Constitution drafting and ratification timeline, 1789 Virginia's 5th congressional district election, James Madison Memorial Fellowship Foundation, James Madison Freedom of Information Award, US National Register of Historic Places in Pennsylvania, History of the National Register of Historic Places, Federal Reserve v. Investment Co. Institute, https://en.wikipedia.org/w/index.php?title=Second_Bank_of_the_United_States&oldid=988623130, Buildings and structures in Independence National Historical Park, Bank buildings on the National Register of Historic Places in Philadelphia, National Historic Landmarks in Pennsylvania, Historic American Buildings Survey in Philadelphia, Greek Revival architecture in Pennsylvania, Neoclassical architecture in Pennsylvania, American companies disestablished in 1841, Articles using NRISref without a reference number, Short description is different from Wikidata, Articles needing additional references from March 2019, All articles needing additional references, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, James Fisher, January 25, 1819 – March 6, 1819. Most searched biographies at Second National Bank. National bank, in the United States, any commercial bank chartered and supervised by the federal government and operated by private individuals. Citizens Bank was the successor institution. 2 Due to banking laws, its charter ran slightly less than 20 years and could not be renewed. Meyers, Marvin. months[10] = " A vast range of highly informative and dependable articles have been produced by the Siteseen network of entertaining and educational websites. [81], Jackson mobilized his political base[82] by vetoing the recharter bill[83] and, the veto sustained,[84] easily won reelection on his anti-bank platform. Jackson's veto of the charter extension for the Second National Bank prompted the creation of the whig party. The headquarter was located at Fourth Street And Broadway, Greenville, OH 45331. [20][21] Failing to secure recharter, the Second Bank of the United States became a private corporation in 1836,[5][22] and underwent liquidation in 1841. Strickland's design for the Second Bank of the United States is in essence based on the Parthenon in Athens, Greece, and is a significant early and monumental example of Greek Revival architecture. The federal-style façade was saved and installed in the American Wing of the Metropolitan Museum of Art in 1924. 1816: Congress chartered a Second Bank of the United States because of financial problems, including increased national debt and inflation; the charter would last for 20 years. 491. [36][37] Hostile to the regulatory effects of the central bank,[38] private banks—proliferating with or without state charters[39]—had scuttled rechartering of the first BUS in 1811. Lake Zurich, IL. The first Bank of the United States (1791–1811) and the second Bank of the United States (1816–36) had functioned as agents of the U.S. Treasury and competed with the state, or private, banks, thereby ensuring that the private banks redeemed their banknotes at full value. Second National Bank is not active anymore since 2008-08-16 due to Merger - Without Assistance. The structure is open to the public free of charge and serves as an art gallery, housing a large collection of portraits of prominent early Americans painted by Charles Willson Peale and many others. The Wall Street branch in New York City was converted into the United States Assay Office before it was demolished in 1915. The Second Bank of the United States was chartered for many of the same reasons as its predecessor, the First Bank of the United States. The Bank Itself The Bank of the United States, chartered by Congress, managed the federal government's finances and provided a national currency. Please note temporary branch closures: Frankfort, Lisle The building itself is a work of art. In 1819, the Second National Bank was at the center of one of the most important Supreme Court cases, McCulloch v. Maryland . [57] Upon this widespread disaffection the anti-bank Jacksonian Democrats would mobilize opposition to the BUS in the 1830s. The Second National Bank Of Parkersburg in West Virginia printed $2,825,400 dollars worth of national currency. You can use the phone number +1 937-548-2122 to contact the company. Old Second National Bank Lisle (Ogden & Plank) is a community bank dedicated to serving the current and future needs of the families and businesses that make up the communities in which we live and work. 1953. [85] Jackson proceeded to destroy the bank as a financial and political force by removing its federal deposits,[86][87][88] and in 1833, federal revenue was diverted into selected private banks by executive order, ending the regulatory role of the Second Bank of the United States. The building appears much as an ancient Greek temple, hence the stylistic name. Hammond, Bray. Congress finally passed a law chartering the Second Bank of the United States, which was created to help the national treasury out of its uncomfortable financial situation and to regulate the currency. The first Bank of the United States (1791–1811) and the second Bank of the United States (1816–36) had functioned as agents of the U.S. Treasury and Alongside these shifts in use came changes to the interior and some of the exterior of the building. [61], By the time of Jackson's inauguration in 1829, the national bank appeared to be on solid footing. I attributed this to the sombre influence of the night, and on rising in the morning looked out again, expecting to see its steps and portico thronged with groups of people passing in and out. Email Phone. Designed by architect William Strickland and built between 1819 and 1824, the Second Bank is a fine example of Greek Revival architecture. [46][47], Under the management of the first BUS president William Jones, the bank failed to control paper money issued from its branch banks in the West and South, contributing to the post-war speculative land boom. Second National Bank - Contact Information. Its was established in order to handle the massive Revolutionary war debt and to create a standard form of currency. Second Bank of the United States for kids - President James Madison Video The article on the Second Bank of the United States provides an overview of one of the Important issues of his presidential term in office. [8], The primary regulatory task of the Second Bank of the United States, as chartered by Congress in 1816, was to restrain the uninhibited proliferation of paper money (bank notes) by state or private lenders,[38] which was highly profitable to these institutions. Personal/Business Online Banking Support . [52][56] The financial crisis raised doubts among the American public as to the efficacy of paper money, and in whose interests a national system of finance operated. The War of 1812 had left a formidable debt. Please use this contact information to get in touch with us. Bank. Park National Bank is a family of community banking teams that deliver an exceptional breadth and depth of resources to individuals and businesses, with a hands-on, personalized approach to service and strong local leadership that invests deeply in the places we live and work. Headquarters. Click here to learn about Old Second's preparedness and additional information.. For Drive-thru hours and lobby hours and instructions, please visit our Locations page.. The Second Bank of the United States, also known as the Second National Bank, was a private national bank under federal supervision that existed between 1816-1836. Second National Bank, Division of The Park National Bank. Second National Bank - Contact Information. [57] The national bank was in general disrepute among most Americans when Nicholas Biddle, the third and last president of the bank, was appointed by President James Monroe in 1823.
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