IDEAS home Printed from https://ideas.repec.org/p/ris/jhisae/0101.html
   My bibliography  Save this paper

An Analysis of the United States Bank of Pennsylvania (1836‐1841)

Author

Listed:
  • Baker, Zackary

    (The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise)

Abstract

The Second Bank of the United States, located in Philadelphia, served as the quasi central bank of United States for the duration of its federal charter, from 1816 to 1836. The bank was fully privatized in 1836 after its charter expired, and functioned as a state‐chartered bank with no unusual privileges until its liquidation in 1841. This paper discusses the bank’s underexplored private years, when it was known as the United States Bank of Pennsylvania. The balance sheets for these years were digitized for this paper and are analyzed here to understand the makeup of assets and liabilities and the causes of the bank’s failure.

Suggested Citation

  • Baker, Zackary, 2018. "An Analysis of the United States Bank of Pennsylvania (1836‐1841)," Studies in Applied Economics 101, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
    • Handle: RePEc:ris:jhisae:0101
    as

    Download full text from publisher

    File URL: https://sites.krieger.jhu.edu/iae/files/2018/04/SAE-No.101-April-2018-An-Analysis-of-the-US-Bank-of-Pennsylvania-Zackary-Baker.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Rousseau, Peter L., 2002. "Jacksonian Monetary Policy, Specie Flows, And The Panic Of 1837," The Journal of Economic History, Cambridge University Press, vol. 62(2), pages 457-488, June.
    2. Anonymous, 1949. "Economic and Social Council," International Organization, Cambridge University Press, vol. 3(4), pages 673-689, November.
    3. Anonymous, 1949. "Economic and Social Council," International Organization, Cambridge University Press, vol. 3(2), pages 307-319, May.
    4. Javat, Adil, 2017. "An Analysis of the Balance Sheet of the First Bank of the United States," Studies in Applied Economics 74, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
    5. Anonymous, 1949. "Economic and Social Council," International Organization, Cambridge University Press, vol. 3(3), pages 501-515, August.
    6. Anonymous, 1949. "Economic and Social Council," International Organization, Cambridge University Press, vol. 3(1), pages 114-129, February.
    7. Scheiber, Harry N., 1963. "The Pet Banks in Jacksonian Politics and Finance, 1833–1841," The Journal of Economic History, Cambridge University Press, vol. 23(2), pages 196-214, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Agnar Sandmo, 2019. "A fundamental externality in the labour market? Ragnar Frisch on the socially optimal amount of work," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 26(1), pages 129-156, January.
    2. Dominique Hachette, 2004. "Algunos Problemas Económicos Latinoamericanos durante el Siglo XX," Documentos de Trabajo 275, Instituto de Economia. Pontificia Universidad Católica de Chile..
    3. Otero, Jesús, 2011. "The Long-Run Behaviour of the Terms of Trade between Primary Commodities and Manufactures," WIDER Working Paper Series 071, World Institute for Development Economic Research (UNU-WIDER).
    4. Waldheim, Kurt, 1977. "Address delivered by the Secretary-General of the United Nations, Kurt Waldheim at the Seventeenth Session of the Economic Commission for Latin America," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), June.
    5. John E. Tilton, 2013. "Cyclical and Secular Determinants of Productivity in the Copper, Aluminum, Iron Ore, and Coal Industries," Working Papers 2013-11, Colorado School of Mines, Division of Economics and Business.
    6. Iglesias, Enrique V., 1977. "Address delivered by the Executive Secretary of ECLAC at the Seventeenth Session of the Economic Commission for Latin America," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), June.
    7. Ana Iregui & Jesús Otero, 2013. "The long-run behaviour of the terms of trade between primary commodities and manufactures: a panel data approach," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 12(1), pages 35-56, April.
    8. Sebastian-Ilie DRAGOE, 2016. "Inequality Fragility Hypothesis," Expert Journal of Economics, Sprint Investify, vol. 4(2), pages 34-52.
    9. -, 1977. "CEPAL Review no.3," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), June.
    10. Rodríguez, Octavio, 1977. "On the conception of the centre-periphery system," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), June.
    11. Michael D. Bordo & David C. Wheelock, 2004. "Monetary policy and asset prices: a look back at past U.S. stock market booms," Review, Federal Reserve Bank of St. Louis, vol. 86(Nov), pages 19-44.
    12. Wallis, John Joseph, 2003. "The property tax as a coordinating device: Financing Indiana's Mammoth Internal Improvement System, 1835-1842," Explorations in Economic History, Elsevier, vol. 40(3), pages 223-250, July.
    13. John Joseph Wallis, 2006. "The Concept of Systematic Corruption in American History," NBER Chapters, in: Corruption and Reform: Lessons from America's Economic History, pages 23-62, National Bureau of Economic Research, Inc.
    14. Edward L. Glaeser, 2013. "A Nation Of Gamblers: Real Estate Speculation And American History," NBER Working Papers 18825, National Bureau of Economic Research, Inc.
    15. 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.
    16. Matthew Jaremski & Peter L. Rousseau, 2013. "Banks, Free Banks, And U.S. Economic Growth," Economic Inquiry, Western Economic Association International, vol. 51(2), pages 1603-1621, April.
    17. John Joseph Wallis, 2001. "The Property Tax as a Coordinating Device: Financing Indiana's Mammoth Internal Improvement System, 1835 to 1842," NBER Historical Working Papers 0136, National Bureau of Economic Research, Inc.
    18. 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.
    19. Joseph Davis & Marc D. Weidenmier, 2016. "America's First Great Moderation," NBER Working Papers 21856, National Bureau of Economic Research, Inc.
    20. John Joseph Wallis, 2004. "The Concept of Systematic Corruption in American Political and Economic History," NBER Working Papers 10952, National Bureau of Economic Research, Inc.

    More about this item

    Keywords

    Second Bank of the United States; United States Bank of Pennsylvania; balance sheet; assets; liabilities; bank failures;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • N21 - Economic History - - Financial Markets and Institutions - - - U.S.; Canada: Pre-1913

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:jhisae:0101. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Steve H. Hanke (email available below). General contact details of provider: https://edirc.repec.org/data/iaejhus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.