First bank in Texas founded

October 21st, 1822

On this day in 1822, the Banco Nacional de Texas, or Texas National Bank, was established as a bank of issue--the first in Texas--by Governor José Félix Trespalacios in San Antonio. Shortly after arriving in Texas in August, Trespalacios hit upon the idea of issuing paper money, to be backed by the specie due from the central government, as wages to the province's demoralized soldiers. Members of the city council were made officers in the bank, and four soldiers were given the task of hand-producing the notes. Just under 12,000 pesos was issued in two installments on November 1 and December 1, 1822, before the bank was suspended. The short-lived experiment in emergency financing proved costly to most noteholders, who had to wait until 1830 for redemption of the Texas money by the Mexican government. Despite its failure, this institution claims the title of the "first chartered bank west of the Mississippi."

«   Previous Next   »

Related Handbook of Texas Articles

Share this article

Share the Texas Day by Day

Get a Piece of Texas History in Your Inbox

With more than 27,000 articles about Texas history, the Texas State Historical Association's Handbook of Texas is the largest online encyclopedia about all things Texas. Now you can celebrate the history of Texas every day by activating your free subscription to Texas Day by Day. Each day's email tells a little bit more of the story of Texas and links to our collection of more than 27,000 articles. It's one of the best ways to learn more about Texas history — in only 15 minutes a day!

Activate your free subscription to Texas Day by Day and you can:

  • Explore Texas history each day in bite-sized pieces conveniently delivered to your inbox each morning
  • Astound your friends with your Texas history prowess
  • Get in-depth looks at some of the overlooked events and landmarks in Texas history
  • Discover new places to explore in the Lone Star State
Get your Texas Day by Day delivered straight to your inbox:

Calendar

Archive

  • Discover what happened on any date in Texas History.

  • View Now!

Send an eCard

Personalize a piece of Texas history. Share a Day by Day article with friends.

eCard image Send Now

Become a TSHA Member

Get insider access to the most exclusive Texas history club in the nation.

tsha logo Join Today!

Archive

  • Discover what happened on any date in Texas History.

  • View Now!

Send an eCard

Personalize a piece of Texas history. Share a Day by Day article with friends.

eCard image Send Now

Become a TSHA Member

Get insider access to the most exclusive Texas history club in the nation.

tsha logo Join Today!

First bank in Texas founded

October 21st, 1822

On this day in 1822, the Banco Nacional de Texas, or Texas National Bank, was established as a bank of issue--the first in Texas--by Governor José Félix Trespalacios in San Antonio. Shortly after arriving in Texas in August, Trespalacios hit upon the idea of issuing paper money, to be backed by the specie due from the central government, as wages to the province's demoralized soldiers. Members of the city council were made officers in the bank, and four soldiers were given the task of hand-producing the notes. Just under 12,000 pesos was issued in two installments on November 1 and December 1, 1822, before the bank was suspended. The short-lived experiment in emergency financing proved costly to most noteholders, who had to wait until 1830 for redemption of the Texas money by the Mexican government. Despite its failure, this institution claims the title of the "first chartered bank west of the Mississippi."

«   Previous Next   »

Related Handbook of Texas Articles

Share this article

Share the Texas Day by Day

Get a Piece of Texas History in Your Inbox

With more than 27,000 articles about Texas history, the Texas State Historical Association's Handbook of Texas is the largest online encyclopedia about all things Texas. Now you can celebrate the history of Texas every day by activating your free subscription to Texas Day by Day. Each day's email tells a little bit more of the story of Texas and links to our collection of more than 27,000 articles. It's one of the best ways to learn more about Texas history — in only 15 minutes a day!

Activate your free subscription to Texas Day by Day and you can:

  • Explore Texas history each day in bite-sized pieces conveniently delivered to your inbox each morning
  • Astound your friends with your Texas history prowess
  • Get in-depth looks at some of the overlooked events and landmarks in Texas history
  • Discover new places to explore in the Lone Star State
Get your Texas Day by Day delivered straight to your inbox: