The Manhattan Company was founded in 1799 in New York City by Aaron Burr and others. Its original purpose was to supply clean drinking water to the city, addressing public health concerns. The company constructed a water supply system, which included reservoirs and aqueducts, to provide fresh water to residents. In 1804, the Manhattan Company was granted a charter that allowed it to use any surplus funds for banking purposes. This led to the establishment of one of the first banks in the United States, which eventually evolved into the modern-day JPMorgan Chase.