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Early state banks in the United States: how many were there and when did they exist?

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  • Warren E. Weber

Abstract

This paper describes a newly constructed data set of all U.S. state banks from 1782 to 1861. It contains the names and locations of all banks and branches that went into business and an estimate of when each operated. The compilation is based on reported balance sheets, listings in banknote reporters, and secondary sources. Based on these data, the paper presents a count of the number of banks and branches in business by state. I argue that my series are superior to previously existing ones for reasons of consistency, accuracy, and timing. The paper contains examples to support this argument.

Suggested Citation

  • Warren E. Weber, 2005. "Early state banks in the United States: how many were there and when did they exist?," Working Papers 634, Federal Reserve Bank of Minneapolis.
    • Handle: RePEc:fip:fedmwp:634
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    References listed on IDEAS

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    1. Weber, Warren E., 2003. "Interbank payments relationships in the antebellum United States: evidence from Pennsylvania," Journal of Monetary Economics, Elsevier, vol. 50(2), pages 455-474, March.
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    Cited by:

    1. Peter L. Rousseau, 2021. "Jackson, the Bank War, and the Legacy of the Second Bank of the United States," AEA Papers and Proceedings, American Economic Association, vol. 111, pages 501-507, May.
    2. Michael D. Bordo & William Roberds, 2022. "Central Bank Digital Currencies, an Old Tale With a New Chapter," NBER Working Papers 30709, National Bureau of Economic Research, Inc.
    3. Qian Lu & John Joseph Wallis, 2015. "Banks, Politics, and Political Parties: From Partisan Banking to Open Access in Early Massachusetts," NBER Working Papers 21572, National Bureau of Economic Research, Inc.
    4. Howard Bodenhorn & David Cuberes, 2010. "Financial Development and City Growth: Evidence from Northeastern American Cities, 1790-1870," NBER Working Papers 15997, National Bureau of Economic Research, Inc.
    5. Peter L. Rousseau, 2016. "The Politics of Financial Development: A Review of Calomiris and Haber's Fragile by Design," Journal of Economic Literature, American Economic Association, vol. 54(1), pages 208-223, March.
    6. B. Zorina Khan, 2017. "Related Investing: Corporate Ownership and Capital Mobilization during Early Industrialization," NBER Working Papers 23052, National Bureau of Economic Research, Inc.
    7. Benjamin Chabot & Charles C. Moul, 2014. "Bank Panics, Government Guarantees, and the Long‐Run Size of the Financial Sector: Evidence from Free‐Banking America," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(5), pages 961-997, August.
    8. Peter L. Rousseau, 2013. "Politics on the road to the U.S. monetary union," Vanderbilt University Department of Economics Working Papers 13-00006, Vanderbilt University Department of Economics.
    9. Qian Lu & John Joseph Wallis, 2017. "Banks, Politics, and Political Parties: From Partisan Banking to Open Access in Early Massachusetts," NBER Chapters, in: Organizations, Civil Society, and the Roots of Development, pages 109-145, National Bureau of Economic Research, Inc.
    10. Gary B. Gorton, 2016. "The History and Economics of Safe Assets," NBER Working Papers 22210, National Bureau of Economic Research, Inc.
    11. Owen F. Humpage, 2023. "On the Origins of the Federal Reserve System and Its Structure," Working Papers 23-17, Federal Reserve Bank of Cleveland.

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