Final answer:
The question involves the constitutional and financial arguments within Washington's cabinet, primarily between Hamilton who supported a strong central bank and Jefferson who opposed it based on state's rights. Hamilton's financial vision prevailed, influencing the creation of the Bank of the United States. The correct answer is option a.
Step-by-step explanation:
The financial and constitutional arguments between members of President George Washington's cabinet—particularly Alexander Hamilton and Thomas Jefferson—centered on the establishment of a national bank. Alexander Hamilton, as Secretary of the Treasury, advocated for a broad construction of the Constitution, which would allow for the creation of the Bank of the United States.
He believed it was "necessary and proper" for managing the nation's economy and providing credit. On the other hand, Thomas Jefferson, Secretary of State, alongside James Madison, argued on the basis of the Tenth Amendment. They believed that the Constitution did not grant the federal government the power to create a bank and that such power was reserved for the states. In the end, Hamilton's financial vision prevailed, influencing President Washington to sign the bill into law, establishing the first bank. The debates among these key figures were pivotal in shaping the early economic policy and constitutional interpretation in the new republic.
The Federalist Papers, authored by Hamilton, Madison, and John Jay, were instrumental in arguing for a strong federal government and the ratification of the Constitution, particularly in the state of New York. This series of essays is a cornerstone of American political philosophy. In the election of 1796, both Hamilton and Jefferson, Federalist and Republican respectively, saw their visions come to power with John Adams becoming president and Jefferson as the vice president.