Question

Read the passages from Thomas Jefferson’s Opinion on the Constitutionality of a National Bank, 1791 and Alexander Hamilton’s Opinion as to the Constitutionality of a National Bank of the United States, 1791. Access the documents here.

Explain each man's position, and analyze how these arguments related to the growing debate on the authority of the federal government during Washington's presidency

Answer 1

The position of Alexander Hamilton was that he wanted to have a new national bank for the US. Jefferson however wasn't too keen on the idea. He had Washington on his side to defend him. He didn't want the bank because he was scared of the possibility of a financial monopoly. He believed that this would make state banks less important and giving financers more power than they needed. Hamilton thought that with a national bank, that it was a necessity. This was thought because he thought that with the bank there would be an improve and would stabilize the credit. He also wanted a bank so that they could make loans for the government and businesses. Washington was still on Hamilton's side so he gave a helping hand in the matter. Jefferson retaliated with the federal government and gave a fair battle.

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Answer 2

Alexander Hamilton brought out the idea for a new national bank in the United States, but Jefferson strongly opposed it. Hamilton had a powerful stand in the argument, however, because Washington was on his side and Washington was the president of the united states at the time. So, Washington helped Hamilton with his mission against Jefferson. Soon Jefferson came back with the federal government and now there was an even battle.

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