 This was thus the nation's first de facto central bank, being the United States' first government-incorporated bank, following in the footsteps of the Bank of England until 1785, when the Bank’s charter within the Commonwealth of Pennsylvania was revoked.In 1782, Gouverneur Morris initiated the decimal coinage idea while coining the word "cent" that later became standard for the country's currency.After Morris left the superintendency on November 1, 1784, the post was superseded by a board.