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It would establish the precedent that Congress could do anything it wanted for the good of the nation, thus destroying the entire system of delegated and reserved powers.

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15y ago
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6mo ago

Thomas Jefferson believed that chartering a national bank would give too much power to the central government and would open the door to corruption and manipulation. He feared that it would undermine state banks and lead to the concentration of wealth in the hands of a few. Jefferson believed in a decentralized economy and believed that a national bank would ultimately be detrimental to the long-term health of the country.

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Q: According to Thomas Jefferson what would be the long-term consequence of chartering a national bank?
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