Editing Bank of North America (section)

=== Congressional charter ===
[[File:US-Colonial (PA-274)-Pennsylvania-6 Aug 1789.jpg|thumb|Three pence issued by the Bank of North America on August 6, 1789, printed by [[Benjamin Franklin Bache (journalist)|Benjamin Franklin Bache]] on marbled paper obtained by [[Benjamin Franklin]].<ref>{{cite book|last1=Newman|first1=Eric P.|title=Early Paper Money of America|date=November 28, 2008|publisher=KP Books|location=Iola, Wisconsin|isbn=978-0896893269|page=364|edition=5th}}<!-- |access-date=17 March 2016 --></ref>]]
In May 1781, [[Alexander Hamilton]] revealed that he had recommended [[Robert Morris (financier)|Robert Morris]] for the position of [[Superintendent of Finance of the United States]] the previous summer when the constitution of the [[Articles of Confederation]]-era executive was being solidified. He also proceeded to lay out a proposal for a national bank that would serve as a ''de facto'' [[central bank]]. 

Morris corresponded with Hamilton previously on the subject of funding the war, and immediately drafted a legislative proposal based on Hamilton's suggestion and submitted it to the Congress. Morris persuaded Congress to charter the Bank of North America, the first private commercial bank in the United States.<ref name="Knox">{{cite book|last1=Knox|first1=John Jay|editor1-last=Rhodes|editor1-first=Bradford|editor2-last=Youngman|editor2-first=Elmer Haskell|title=A History of Banking in the United States|date=1900|publisher=B. Rhodes & Company|page=[https://archive.org/details/ahistorybanking01knoxgoog/page/n76 40]|url=https://archive.org/details/ahistorybanking01knoxgoog|access-date=March 17, 2016}}</ref> His friend, Dr. [[Hugh Shiell]], paid £5000 to the capital stock.<ref>{{Cite book |last=Harris |first=Joseph Smith |url=https://books.google.com/books?id=7uDIDwAAQBAJ&dq=Hugh+Shiell&pg=PA27 |title=Record of the Harris family descended from John Harris, born in 1680 in Wiltshire, England |date=January 1, 1903 |publisher=Dalcassian Publishing Company |language=en}}</ref>