Superintendent of Finance of the United States
Encyclopedia
The post of Superintendent of Finance of the United States was one of three executive offices created by the Congress of the Confederation
in 1781. Another office, Agent of the Marine, was also create was not directly filled but devolved on to the Superintendent.
The only person to hold the office was Robert Morris, who served from 1781 to 1784, with the assistance of Gouverneur Morris
. Its powers were analogous to that of Secretary of the Treasury or the Prime Minister
of many British Commonwealth countries.
The Bank of North America was chartered on December 31, 1781 by the Congress of the Confederation and opened on January 7, 1782, at the prodding of Robert Morris. This was thus the nation's first de facto central bank, following in the footsteps of the Bank of England until 1785, when the Bank’s charter within the Commonwealth of Pennsylvania was revoked.
After Morris resigned, the post was taken over by a committee of three.
Congress of the Confederation
The Congress of the Confederation or the United States in Congress Assembled was the governing body of the United States of America that existed from March 1, 1781, to March 4, 1789. It comprised delegates appointed by the legislatures of the states. It was the immediate successor to the Second...
in 1781. Another office, Agent of the Marine, was also create was not directly filled but devolved on to the Superintendent.
The only person to hold the office was Robert Morris, who served from 1781 to 1784, with the assistance of Gouverneur Morris
Gouverneur Morris
Gouverneur Morris , was an American statesman, a Founding Father of the United States, and a native of New York City who represented Pennsylvania in the Constitutional Convention of 1787. He was a signatory to the Articles of Confederation. Morris was also an author of large sections of the...
. Its powers were analogous to that of Secretary of the Treasury or the Prime Minister
Prime minister
A prime minister is the most senior minister of cabinet in the executive branch of government in a parliamentary system. In many systems, the prime minister selects and may dismiss other members of the cabinet, and allocates posts to members within the government. In most systems, the prime...
of many British Commonwealth countries.
The Bank of North America was chartered on December 31, 1781 by the Congress of the Confederation and opened on January 7, 1782, at the prodding of Robert Morris. This was thus the nation's first de facto central bank, following in the footsteps of the Bank of England until 1785, when the Bank’s charter within the Commonwealth of Pennsylvania was revoked.
After Morris resigned, the post was taken over by a committee of three.
Further reading
- Ferguson, E. James. The power of the purse: A history of American public finance, 1776-1790 (1961)
- Rappleye, Charles. Robert Morris: Financier of the American Revolution (2010)
- Ver Steeg, Clarence L. Robert Morris, Revolutionary Financier. Philadelphia: University of Pennsylvania Press, 1954 (ISBN 0-374-98078-0).