Why did Alexander Hamilton and Thomas Jefferson disagree on national banks?

Answer 1

They disagreed over the establishment of the national bank because Jefferson distrusted the government, while Hamilton did not. Jefferson's sympathies were with the debtors and farmers. He supported a broad distribution of wealth and disliked industrialism and organized finance. He believed in the perfectability of man and that the people using representatives knew best how to govern themselves. Basically, Jefferson believed that the less power the federal government had, the better. Hamilton supported a strong and active central government, which would encourage industry, commerce and finance. His sympathies were with creditors and buisness oriented people. He distrusted the people's ability to govern themselves and supported a powerful executive with an elite following. Basically, Hamilton believed in a strong and active government, which acted to benefit certain interests.

Answer 2

They disagreed over the establishment of the national bank because Jefferson distrusted the government, while Hamilton did not. Jefferson's sympathies were with the debtors and farmers. He supported a broad distribution of wealth and disliked industrialism and organized finance. He believed in the perfectability of man and that the people using representatives knew best how to govern themselves. Basically, Jefferson believed that the less power the federal government had, the better. Hamilton supported a strong and active central government, which would encourage industry, commerce and finance. His sympathies were with creditors and buisness oriented people. He distrusted the people's ability to govern themselves and supported a powerful executive with an elite following. Basically, Hamilton believed in a strong and active government, which acted to benefit certain interests.

Answer 3

That was because Hamilton was part of a political party called the Federalists, and Jefferson was part of a group called the Anti-Federalists. As you can clearly tell by the names of the parties, one group wanted big centralized government (feds) while the other didn't (anti-feds). Alexander believed that America's federal power should exceed that of the individual states while Jefferson thought states should have complete sovereignty over themselves.

A national bank would expand the power of the federal government though it would unify the country. However, many people, such as Jefferson, were wary of this idea because they did not want the government to get too powerful, and become as tyrannical as Britain had been.