Hamilton and the national bank?why did hamilton believe the national bank would tie the wealthy citizens to the american government? site source |
Hamilton and the national bank?why did hamilton believe the national bank would tie the wealthy citizens to the american government? site source |
The establishment of the bank raised early questions of constitutionality in the new government. Hamilton, then Secretary of the Treasury, argued that the Bank was an effective means to achieve the authorized powers of the government implied under the necessary and proper clause of the constitution.
Hamilton's financial plan - ยท During Washington's first term as president, his Secretary of the Treasury, Alexander Hamilton, introduced a series of bills to create an American financial system. The plan called for the federal government to assume the Revolutionary War debts of the states. This would tie the states more tightly to the federal government and give creditors (the people who lent money) an incentive to preserve the government. The plan also called for the establishment of a national bank, which would further strengthen the government and create strong national credit.