History of Massachusetts volume 2

Cover History of Massachusetts volume 2
History of Massachusetts volume 2
Alden Bradford
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In May 1781, Congress authorised the establish ment of a national bank at Philadelphia, agreea bly to a plan proposed by Mr. Morris, who was then superintendant of finance. The legislature of Massachusetts passed a law in March 1782, for the purpose of giving currency to the bills is sued by that bank within the state, authorizing the treasurer and others to receive them for pay ment of the debt of the state, and subjecting those to severe punishment who should counter feit them. The first bank
... in Massachusetts was established in 1784. The charter had no limita tion, as to the period of its continuance. For several years it was the only banking company in the state; and the profits which it yielded to the pro prietors were very great.
The constitution of Massachusetts adopted in October 1780, provided that the highest judicial tribunal in the state should be denominated the 217 Supreme Judicial Court. In July 1782, a court with this title was established by law. The legis lature had sometime before enacted, that the judges of the superior court of judicature, the name formerly given to the highest judicial court in the Commonwealth, should exercise the powers given by the constitution to the supreme judicial court.


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