Mr.Morris then subscribed the specie remaining in the Treasury, about $254,000, for shares for account of the United States, which became thereby the principal stockholder.

The limit assigned by the ordinance remained, however, at ten millions of dollars.

There was nothing in the acts of Congress which implied any exclusive right of the United States government in the bank except during the war of the Revolution.

A local charter was obtained from the legislature of Pennsylvania, and the bank was opened in Philadelphia for the transaction of business in January, 1782.

Its services to the government during the period of the war were inestimable.