Alexander Hamilton's First National Bank Revolutionized the U.S. Economy. After Sitting Shuttered for Years, the Philadelphia Landmark Reopened as a Museum

The concept was controversial when it was first proposed following the Revolutionary War. Centuries later, the First Bank of the United States has been transformed into a museum dedicated to the country’s economic history just in time for America’s 250th anniversary.

A ribbon cutting commemorated the building’s reopening on July 1. When it was last open to the public around 20 years ago, it was in a much sorrier state, with “dark and dingy” interiors and outdated utilities, Frank Kummer reports for the Philadelphia Inquirer. The Independence Historical Trust and Independence National Historical Park raised funds to restore the building starting around 2017, securing $43 million from private donors and the federal government, Michaela Althouse reports for PhillyVoice.

Much of that money went to modernizing the two-century-old building, as workers had to contend with a leaky roof, degrading brick and marble masonry and asbestos. In addition to the behind-the-scenes updates, the renovation team also restored the ornate interior. The building—with its marble columns and barrel-vaulted rotunda—is an example of American neoclassical architecture.