Alexander Hamilton supported a national bank because the United States needed some way to recovery financially after the Revolutionary War. At the time, the United States had no common currency. The creation of a national bank would facilitate the creation of a common currency.
One of the most important of Alexander Hamilton's many contributions to the emerging American economy was his successful advocacy for the creation of a national bank. But the Bank of the United ...
Why did Hamilton want to establish a national bank? A. He wanted the capital moved to Washington, D.C. B. He believed in strong state governments. C. He thought it was a good compromise between his original plan and what others wanted. D. He believed it would help the country's financial problems.
Why did Hamilton want to establish a national bank? A. He thought it was a good compromise between his original plan and what others wanted. B. He wanted the capital moved to Washington, D.C. C. He believed it would help the country's financial problems. D. He believed in strong state governments.
The national bank, and many of Hamilton’s other ideas, had another important effect. They created a disagreement that still exists. The disagreement began with Alexander Hamilton and Thomas ...
During the American Revolution the patriot cause almost collapsed for lack of a sound currency and a source of either loans or revenue. The Continental Congress issued paper currency and debt instruments without any income or authority that would ...
Hamilton thought that the National Bank was Constitutional and Jefferson thought that the National Bank was unconstitutional. ... They were against it because they didn't want to pay taxes to pay for the debts of the North. ... Why did Hamilton suggest moving the nation's capital to Washington D.C. from New York?
Chapter 4 Hamilton, Jefferson, and the First National Bank of the United States magine going to a bank to borrow money. You want to go into business making stagecoaches. Ten are already on order, but you need $1000 to buy necessary tools and materials and to pay workers. You need money to start your business. You meet with the president of the ...
Best Answer: Hamilton had long believed in the need for banks to provide credit and stimulate the economy. As early as 1780, he wrote a letter describing central banks in Europe and wondered, "And why cannot we have an American bank?" Hamilton helped found the Bank of New York in 1784.
Furthermore, he pointed out that the United States Constitution did not give Congress the power to create a national bank. His opponents, who construed the Constitution more loosely than did Jefferson, argued that the document did not ban Congress from creating a bank, and that therefore such an action was actually constitutional.