Campaign to establish a bank begins.

Elisha Cooke Jr., William Paine, Oliver Noyes and John Colman take out an advertisement in the Boston Newsletter proposing to create a private, profit-making bank that they say would address the shortage and questionable value of currency in Boston. The bank could have assembled a net worth greater than the provincial treasury and is seen as a threat by Gov. Dudley, who proposes formation of a public bank instead. The private bank proposal is defeated and the public bank idea is approved by town meeting late in 1715, but the notion of a private bank continues to be a controversial issue for more than 60 years.