jefferson and Hamilton Battle

jefferson and Hamilton Battle
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  • I Jefferson don not agree, I think that we should have charter banks that could issue money. He also believed that the constitution did not give the national gov. the power to establish a bank
  • my plan is to assume state debt and establish a national bank and i think my plan will work
  • The congress has now adopt all the debts incurred by the induvial states during the war through a national bank , idea being that the states own congress money then other nations feel more inclined to lend it to us if the states are indebted. It increases the power of the central government
  • Our national banks today issues notes which were backed by the U.S treasury and printed by the gov itself, but the first national bank was needed because the gov had a debt from the revolutionary war and each state had a different. form of currency. the first bank charted was drafted in 1791 and signed by George Washington
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