Morris persuades Congress to charter the Bank…
May 1781 CE
The original charter of May 26, 1781, calls for the disbursement of 1,000 shares priced at $400 each.
Benjamin Franklin purchases one share for 0.1% ownership as a sign of good faith to Federalists and the new bank and Hamilton make public endorsement of the establishment under his pseudonym.
William Bingham's first daughter, Ann Louisa Baring, was born the day before the bank opened, and her father purchases 9.5% of the shares for himself.
She is also the granddaughter of Thomas Willing, a primary shareholder and the original President of the bank offices at Philadelphia.
Robert Morris, using a gift/loan from France, purchases 63.3% of the original shares for the government.
Morris deposits large quantities of gold and silver coin and bills of exchange obtained through loans from the Netherlands and France.
He then issues new paper currency backed by this supply.
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