Duncannon National Bank
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.
Erected by Historical Society of Perry County, Susquehanna Greenway, PA DCNR and Borough of Duncannon. (Marker Number 7.)
Topics. This historical marker is listed in these topic lists: Industry & Commerce • Man-Made Features. A significant historical date for this entry is January 1, 1890.
Location. 40° 23.429′ N, 77° 1.898′ W. Marker is in Duncannon, Pennsylvania, in Perry County. Marker is at the intersection of Cumberland Street and High Street, on the right when traveling west on Cumberland Street. Touch for map. Marker is at or near this postal address: 3 North High Street, Duncannon PA 17020, United States of America. Touch for directions.
Other nearby markers. At least 8 other markers are within walking distance of this marker. Duncannon Presbyterian Church Annex (here, next to this marker); First Sunday School In Perry County (a few steps from this marker); Duncannon Square (about 500 feet away, measured in a direct line); Clark's Ferry Bridge (about 600 feet away); The Railroad in Duncannon (about 600 feet away); Entering Duncannon (about 700 feet away); a different marker also named Entering Duncannon (about 700 feet away); Duncannon (about 700 feet away). Touch for a list and map of all markers in Duncannon.
Also see . . .
1. Perry County Heritage Trail - Duncannon. (Submitted on July 9, 2018, by William Fischer, Jr. of Scranton, Pennsylvania.)
2. Duncannon PA. (Submitted on July 9, 2018, by William Fischer, Jr. of Scranton, Pennsylvania.)
3. Duncannon National Bank History. (Submitted on July 9, 2018, by William Fischer, Jr. of Scranton, Pennsylvania.)
4. Old Money from The Duncannon National Bank Of Duncannon. (Submitted on July 9, 2018, by William Fischer, Jr. of Scranton, Pennsylvania.)
Credits. This page was last revised on July 9, 2018. It was originally submitted on July 9, 2018, by William Fischer, Jr. of Scranton, Pennsylvania. This page has been viewed 288 times since then and 134 times this year. Photos: 1, 2, 3. submitted on July 9, 2018, by William Fischer, Jr. of Scranton, Pennsylvania.