New York City York metropolitan area produced a gross metropolitan product (GMP) of US$1.73 trillion. If greater New York City were a sovereign state, it would have the 12th highest GDP in the world. New York City traces its origins to a trading post founded by colonists from the Dutch Republic in 1624 on Lower Manhattan; the post was named New Amsterdam in 1626. The city and its surroundings came under English control in 1664 and were renamed "New York" after King Charles II of England granted the lands to his brother, the Duke of York. New York served as the capital of
The Bank for Savings in the City of New-York The Bank for Savings in the City of New-York The Bank for Savings in the City of New-York (1819 - 1982) was the first savings bank in New York City. The Bank for Savings in the City of New-York was incorporated on March 16, 1819 . First publicly advertised as "A BANK FOR THE POOR," it was modeled after similar institutions in Europe; its stated purpose was to "effect a secure place of deposit for the earnings of the laboring part of the community: and at the same time to give them the benefit of an accumulation of interest." Among