Two volumes have recently challenged the assumption that institutional change either (1) takes the form of gradual adaptation in the service of continuity, or (2) entails the abrupt breakdown of existing arrangements. This scholarship has demonstrated that change can also be simultaneously gradual and transformative. Conversion represents one type of such change; it involves the use of institutional resources for new purposes. I chronicle the conversion of the Bank of the United States (1791–1811) from a fiscal auxiliary of the federal government to an institution with both fiscal and monetary capacities. More generally, I ask whether this change squares with existing understandings of how conversion unfolds. Conversion is thought to occur when (1) new actors assume control, or (2) new challenges prompt the redeployment of resources. I ask whether the Bank's conversion resulted from (3) efforts by institutional elites to invent a rationale for deployment. I find that the change in question resulted from genuine concerns about the supply of bank credit in the Early Republic. With the details of this historical transformation in mind, I briefly digress in order to address repeated claims that the Bank of the United States was or became a “central bank” during this period.

Eighty percent of American cities today hold their general elections on different days than state and national elections. It is an established fact that voter turnout in these off-cycle local elections is far lower than turnout in local elections held concurrently with state and national elections. In this paper, I demonstrate that the timing of city elections has been an important determinant of voter turnout since before the Civil War. By examining three large American cities over the course of the nineteenth century, I find that American political parties regularly manipulated the timing of city elections to secure an edge over their rivals. I show that the decisions to change the election dates of these cities were contentious, partisan, and motivated by an expectation of subsequent electoral gain. The Progressive municipal reformers of the late nineteenth and early twentieth centuries continued in this tradition when they separated city elections from state and national elections, and the local election schedule they implemented has largely persisted until today.

Institutional theorists have made major progress in recent years examining gradual processes of endogenous institutional change. Building on this line of theorizing, this article highlights an often overlooked source of incremental change in political institutions: investments in institutional resources. Unlike path-dependent processes, which are relatively open at the front end and relatively closed at the back end, resource investments made in one period serve to widen an institution's path and enhance its capacity to undertake a broader range of activities in subsequent periods. Drawn out over time, these investments can gradually transform institutional operations and purposes. To illustrate these dynamics, this article reconsiders the transformation of the national party committees into “parties in service” to their candidates. The most influential theoretical explanation for this change is supplied by actor-centered functionalist accounts that either ignore the parties' institutional forms or treat them as mere reflections of actors' preferences. As an alternative, I suggest that investments in two types of institutional resources—human resources and information assets—were integral to the process through which each party changed. Piecemeal investments in these resources gradually enabled each national party committee to provide a wider range of campaign services to its candidates, thereby producing ostensibly new “functions” over time. Though the process of institutional change unfolded at very different times in each party, the same dynamics were on display in both cases.

Proceeding inductively, starting with three standard examples of major constitutional change, this short essay offers a theory of the Constitution, derived from its historical imposition on the criminal law. The theory proposes to unite constitutional provision, structure, and operations within a single framework over time.