Duncannon National Bank

Duncannon National Bank (HM2975)

Location: Duncannon, PA 17020 Perry County
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Country: United States of America
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N 40° 23.429', W 77° 1.898'

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Inscription
Built in 1889, this was the first building in Perry County to be devoted exclusively to banking. The Duncannon National Bank was the first National Bank established in the county and started operations January 1, 1890. Its president was John Wister and the cashier was P. F. Duncan.
National Banks were chartered under the oversight of the Treasury Department and were authorized to issue its own currency. Two such bills are shown in the bottom right corner. Note that the currency was signed by local bank officials.
National Banks were created to standardize capital and lending requirements that varied under each state's regulations. It was an attempt to protect investors and depositors from fraud and bank insolvency.
Prior to the formation of the Duncannon National Bank, the safe at the Duncannon Iron Works was used to protect large sums of money. Currency was dispatched from banks in Harrisburg and Carlisle as needed. It was common for merchants and businesses to act as banks and lenders before banks became more common in the 20th century.


www.susquehannagreenway.org
www.PerryCountyHeritageTrail.com
Details
HM NumberHM2975
Tags
Placed ByHistorical Society of Perry County, Susquehanna Greenway, PA DCNR and Borough of Duncannon
Marker ConditionNo reports yet
Date Added Monday, July 9th, 2018 at 7:01pm PDT -07:00
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Locationbig map
UTM (WGS84 Datum)31N E 166021 N 0
Decimal Degrees40.39048333, -77.03163333
Degrees and Decimal MinutesN 40° 23.429', W 77° 1.898'
Degrees, Minutes and Seconds40° 23' 25.74" N, 77° 1' 53.88" W
Driving DirectionsGoogle Maps
Area Code(s)717
Which side of the road?Marker is on the right when traveling West
Closest Postal AddressAt or near 1 High St, Duncannon PA 17020, US
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