 Following heated debate, which included the publication of the now quintessential constitutional interpretation—"The Federalist Papers"—as a series of installments in New York City newspapers, New York was the 11th state to ratify the United States Constitution, on July 26, 1788.New York remained the national capital under the new constitution until 1790, and was the site of the inauguration of President George Washington, the drafting of the United States Bill of Rights, and the first session of the United States Supreme Court.Hamilton's revival of the heavily indebted United States economy after the war and the creation of a national bank significantly contributed to New York City becoming the financial center of the new nation.