It is generally conceded, and the fact is borne out by the records of the Comptroller's office, that the first bank to open for business under a national bank charter was the First National Bank of Davenport, Iowa.

The charter number of this bank was fifteen. The earliest paper on file in the Comptroller's office pertaining to this bank bears date of May 29, 1863. The bank was chartered on June 24, 1863, and opened for business June 29, 1863.

In the history of this bank, prepared by Hon. A. F. Dawson, a former member of Congress, and later president of the bank, it is stated that application for a national charter was made on February 24, 1863, and was received at the Treasury Department on February 26, 1863.

The first bank to receive a certificate of authority to begin business as a national association was the First National of Philadelphia, Pa. This bank was given Charter No. 1, dated June 20, 1863, but it did not open for business until July 11, 1863.

HUGH McCULLOCH First Comptroller of the Currency, 1863 1865

HUGH McCULLOCH First Comptroller of the Currency, 1863-1865.