The landmark First Bank of the United States in Philadelphia, subject of a fierce debate in the early years of the American republic, will be getting a $22.2 million renovation as part of a planned transformation into a museum.
PHILADELPHIA, PA - MARCH 17: The First Bank of the United States is closed to the public due to the coronavirus outbreak on March 17, 2020 in Philadelphia, Pennsylvania. The tourism and entertainment industries have been hit hard by restriThe landmark First Bank of the United States in Philadelphia, subject of a fierce debate in the early years of the American republic, will be getting a $22.
After years of calls for its restoration, the building will open as a museum in time for the celebration of the 250th anniversary of the Declaration of Independence in 2026. Park officials say the newly formed United States had massive debt and dozens of local currencies as President George Washington took office in 1789. Alexander Hamilton, then secretary of the treasury, advocated a national bank to give the federal government more authority to handle the fiscal situation. Future president Thomas Jefferson, then secretary of state, argued that the U.S. Constitution didn't authorize creation of a national bank and urged a veto by Washington.
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Landmark First Bank building in Philadelphia to be renovated and will become a museumThe landmark First Bank of the United States in Philadelphia, subject of a fierce debate in the early years of the American republic, will be getting a $22.2 million renovation as part of a planned transformation into a museum.
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