John Nixon Reads the Declaration and Directs the First Bank
John Nixon was the first person to read the Declaration of Independence in public.
Nixon went on to fund the Revolutionary War by directing one of America’s first banks.
John Nixon
John Nixon was born into a wealthy Philadelphia family and followed his father into business as a merchant.
Nixon became an early supporter of the Patriots due to Parliaments anti-trade taxation policies and signed a non-importation agreement in response to the Stamp Act.
Through the ensuing years, Nixon became a member of Philadelphia’s Committee of Correspondence, followed by its Committee of Safety,
The First Reading
Nixon became an officer in the Philadelphia Associators which was the city’s main militia unit.
He spent several months stationed at Fort Island where he commanded the defense of a portion of the Delaware River.
John returned in July of 1776, just in time for the publication of the Declaration of Independence.
On July 8th, Nixon received the honor of standing in front of a crowd in Philadelphia to give the first public reading of the Declaration of Independence.
This event was followed by the ringing of bells and other celebrations throughout the city.
Officer
Nixon was soon with the Continental Army, serving as a Colonel and fighting in the New Jersey and Philadelphia Campaigns.
He also returned home to assist the Navy Board due to his experience overseeing a shipping trade.
Banking
In 1780, the Bank of Pennsylvania was created to fund the ongoing Revolutionary War.
John Nixon, a charter member, was chosen as its first (and only) director.
The following year, this bank was replaced by the Bank of North America. Though Nixon helped organize this bank he was not appointed director for another decade.
When he did take over, the Bank of North America joined the Bank of New York and the First Bank of the United States as the three original members of the New York Stock Exchange.
Here are some other articles about early American banking:
William Duer Almost Bankrupts America
Hamilton Plays Middleman - The Founding of the Bank of New York
Sugar, Money and Revolution - Issac Roosevelt Amasses a Fortune
Funding the War of 1812 - Stephen Girard and His Bank
Financing the American Revolution is an extremely complicated topic to explain.
‘Bank Notes and Shinplasters’ does a great job making the complicated topic of paper money digestible.
If you’d like a copy you can get one through the Amazon affiliate link below (you’ll support this site, but don’t worry, Amazon pays me while your price stays the same).
Want to get fun American Revolution articles straight to your inbox every morning?
Subscribe to my email list here.
You can also support this site on Patreon by clicking here.
Thanks for your support!
