Second Bank of the United States

Second Bank of the United States

Type	Historic building, museum
Address	420 Chestnut Street
Map	View on Google Maps
Neighborhood	Old City
Phone	(215) 965-2305
Website	Official site
Established	1824
Founder	United States Congress
Owner	National Park Service
Hours	Wed-Sun 11:00 AM - 5:00 PM
Products	Portrait gallery, historic site
Status	Museum

Second Bank of the United States(215) 965-2305https://www.nps.gov/inde/learn/historyculture/places-secondbank.htm420 Chestnut StreetPhiladelphiaPAUS

The Second Bank of the United States is a historic Greek Revival building located at 420 Chestnut Street in Old City, considered one of the finest examples of Greek Revival architecture in America. Built between 1818 and 1824 to house the nation's central bank, the building now serves as a portrait gallery operated by the National Park Service as part of Independence National Historical Park. The gallery displays 185 portraits of notable early Americans, including many Founding Fathers painted from life.

The building was designed by William Strickland and is modeled after the Parthenon in Athens, featuring massive Doric columns on both its north and south facades. As the headquarters of America's most powerful financial institution during the 1820s and 1830s, the Second Bank stood at the center of one of the most significant political controversies of the era—President Andrew Jackson's "Bank War" against the institution, which he viewed as a threat to democracy.

History

The First Bank of the United States

The First Bank of the United States (1791-1811) was established by Alexander Hamilton as part of his economic program. Located nearby at 3rd and Chestnut Streets, the First Bank's charter expired in 1811 amid controversy over federal power and state banking interests.

Establishment of the Second Bank

After financial chaos during the War of 1812, Congress chartered the Second Bank of the United States in 1816. The Bank was designed to:

• Regulate the nation's money supply
• Serve as fiscal agent for the federal government
• Provide a stable national currency
• Restrain the lending practices of state-chartered banks

Philadelphia was chosen as the Bank's headquarters, reflecting the city's status as America's financial center.

Nicholas Biddle

Nicholas Biddle (1786-1844) served as the Bank's president from 1823 to 1836 and transformed it into a sophisticated central bank. A Philadelphia aristocrat and scholar, Biddle managed the institution with considerable skill, maintaining the nation's financial stability.

However, Biddle's influence and the Bank's power attracted political opposition, particularly from President Andrew Jackson.

The Bank War

President Andrew Jackson viewed the Second Bank as unconstitutional, undemocratic, and a tool of wealthy Eastern elites. In 1832, he vetoed a bill to renew the Bank's charter, declaring:

"The bank is trying to kill me, but I will kill it."

Jackson removed federal deposits from the Bank in 1833, and its charter expired in 1836. The Bank continued briefly as a state-chartered institution but failed in 1841.

After the Bank

Following the Bank's failure, the building served various purposes:

• U.S. Custom House (1844-1935)
• Carl Schurz Memorial Foundation (1930s)
• National Park Service museum (1974-present)

Architecture

Greek Revival Masterpiece

The Second Bank of the United States is considered William Strickland's masterpiece and one of the most important Greek Revival buildings in America.

Exterior

• Style: Greek Revival, modeled on the Parthenon
• Columns: Eight massive Doric columns on north and south facades
• Material: Pennsylvania marble
• Dimensions: 121 feet wide, 80 feet deep

The building's temple-front design was revolutionary for American architecture and established Greek Revival as the dominant style for public buildings throughout the antebellum period.

Interior

• Banking Hall: Grand central space with marble columns
• Vaults: Original iron vault doors remain
• Restoration: Interior adapted for museum use while preserving original features

William Strickland (1788-1854)

Strickland was one of the most influential architects of early American history. A student of Benjamin Henry Latrobe, Strickland designed numerous important buildings including:

• The Second Bank of the United States
• The Philadelphia Merchants' Exchange
• The Tennessee State Capitol
• The First Presbyterian Church of Nashville

The Portrait Gallery

Collection

The Second Bank now houses the People of Independence portrait gallery, featuring 185 paintings of notable figures from the Revolutionary and early national periods.

Highlights

• George Washington by Charles Willson Peale (painted from life)
• Thomas Jefferson by Charles Willson Peale
• Benjamin Franklin by Charles Willson Peale
• Marquis de Lafayette by Thomas Sully
• Portraits of nearly all signers of the Declaration of Independence

Artists

Many portraits were painted by Charles Willson Peale (1741-1827) and his family, who operated a portrait studio and museum in Philadelphia. Peale painted many Founders from life, making these portraits invaluable historical documents.

Significance

The collection provides an unparalleled opportunity to see authentic likenesses of the Founders—not idealized images created after their deaths, but portraits painted when these figures were alive and active.

Visiting the Second Bank

Hours

• Wednesday-Sunday: 11:00 AM - 5:00 PM
• Closed: Monday, Tuesday, and major holidays

Admission

Free admission

The gallery is part of Independence National Historical Park and open to the public at no charge.

What to See

• Portrait Gallery: Explore the collection of Founding Fathers and early American leaders
• Banking Hall: Experience the grand interior space
• Architecture: Study the Greek Revival details
• Temporary Exhibits: Rotating displays on American history

Getting There

• SEPTA Market-Frankford Line: 5th Street Station (1 block)
• SEPTA Bus: Routes 5, 17, 21, 42
• Walking: Adjacent to Independence Hall and Carpenters' Hall

Nearby Attractions

• Independence Hall (adjacent)
• Carpenters' Hall (adjacent)
• Library Hall (across the street)
• Philosophical Hall (across the street)

See Also

• Independence Hall
• First Bank of the United States
• Old City, Philadelphia
• Architecture in Philadelphia
• Banking in Philadelphia

External Links

• National Park Service - Second Bank
• Visit Philadelphia Guide