The American Revolution was largely sparked by King George III's Currency Act, which required colonists to use printed bank notes from the Bank of England, incurring interest. Following independence, the United States established a new economic system with its own government-issued currency, avoiding the wealth extraction of interest-bearing notes. However, bankers aimed to regain control, exploiting political influence. A year after Mayer Amschel Rothschild declared his belief that controlling a nation's money meant controlling its laws, bankers established the First Bank of the United States, largely thanks to Alexander Hamilton, Rothschild's key American ally.