Daniel McCormick (banker)

Daniel McCormick (1739/40 – 1834) was a Scottish-born businessman who lived most of his life in New York City, where he was a founding director of the Bank of New York, and was well known in circles that included Alexander Hamilton (to whom he was distantly related by marriage), John Jay (first Chief Justice of the United States from 1789 to 1795), John Adams (first vice president of the United States (1789–1797), and second president of the United States (1797–1801)), and the artist Gilbert Stuart.

Daniel was born in Edinburgh, Scotland, in either 1739 or 1740. He had a brother named Edward, who married Joanna Hamilton, a cousin of Alexander Hamilton. Hamilton and Daniel were neighbors in New York City in 1789; Hamilton had an office at 58 Wall Street and Daniel lived at 57 Wall Street.

It is unknown when Daniel arrived in the United States – possibly some time in the 1760s, when he was in his twenties. He served as a lieutenant in the patriot militia until the British occupation of New York City. As a recognized neutral during the occupation he escaped confiscation of his property and as early as 1784 had won election to the newly formed Chamber of Commerce. After the occupation he worked for an auctioneering company named Moore, Lynsen and Company and made a fortune in the sale of prizes during the Revolutionary War.

New York City became temporary capital of the US in 1785, and formal capital in September 1788. It remained capital until 1790 when it was replaced by Philadelphia.

Some time after the war, Daniel established a business at 39 Wall Street, close to Federal Hall (26 Wall Street). The latter served as the meeting place for the US Congress between 1785 and 1789 under the Articles of Confederation. It was remodeled in 1788 under the direction of Pierre Charles L’Enfant (later designer of Washington DC), and renamed Federal Hall when it became the first Congress of the U.S. under the new constitution in 1789. George Washington was inaugurated as president in front of Federal Hall in April 1789, and the Bill of Rights was adopted there in September 1789.

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