Question

What larger political and regional divisions were reflected in the debates over debt assumption and the First Bank of the United States?

Answer 1

The debates over debt assumption and the First Bank of the United States reflected the political divisions that led to the first major opposing political parties of the United States. The Federalist party, with most regioanl supporters from New England states, supported the First Bank of the United States. The Democratic-Republican party, with supporters mostly in the south, opposed the First National Bank.