Bank of Kentucky Ledger, 1807-1810

Descriptive Summary

Title
Bank of Kentucky Ledger, 1807-1810
Creator
Bank of Kentucky
Extent
1 v.; 34 cm.
Subjects
Banks and banking -- Accounting Kentucky - 19th century
Bank of Kentucky Archives
Finding Aid Author
Staff
Repository
Kentucky Historical Society

Collection Overview

Biography / History
The Bank of Kentucky was chartered in 1806 by the state legislature as part of a compromise that ended the controversy over private banking. It was modeled on the Bank of the United States and was governed by a president and a twelve-member board of directors. Robert Alexander of Versailles was elected president in 1807 and served for fourteen years during which the bank was sound, profitable, and conservatively administered. The bank's charter was repealed in 1822 by a hard-money legislature after the newly chartered Bank of the Commonwealth flooded the state with its own currency, thus provoking runaway inflation and a collapse in property values.
Scope and Content
This one item collection is a Bank of Kentucky ledger dated 1807-1810. The ledger includes information about stocks in the bank vault and notes offered for discount.
Arrangement: Chronological