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The national bank became a source of controversy when the congress started discussing the laws that would help in its regulations. There were certain clauses of the constitution that allowed it to be discussed while some members did not agree.
Wiki User
∙ 9y ago
Wiki User
∙ 8y agoThe first National Bank was controversial because its creation was entirely justified by the elastic clause of the Constitution. Alexander Hamilton, Secretary of the Treasury and the one who first proposed the Bank his Report on the National Bank, said that since the Bank was "necessary and proper", and the Constitution allowed for things that were "necessary and proper", the Bank was completely allotted for in the Constitution. However, strict constructionists like Thomas Jefferson and James Madison believed that the Constitution had to be read literally, and that a national bank wasn't in the provisions of it. In addition Jefferson and Madison feared that a national bank would strengthen the central government (not a small part of Hamilton's intentions), and that it would lend more power to the bankers and traders of city life (which Hamilton also would not mind).
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Who was in charge of the national bank controversy?
I think you mean who was in charge of the National Bank? Not who was in charge of the National Bank controversy? If you are asking who was in charge of it, not the "controversy", then the answer is private banks.
Which aspect of Hamiltons program received the least support?
The National Bank
What led to Jefferson to oppose Hamiltons plans to promote industry and found a national bank?
HIS SMARTNESS LED HIM TO HAMILTONS PLANS
What led Jefferson to oppose Hamiltons plan to promote industry and found a national bank?
HIS SMARTNESS LED HIM TO HAMILTONS PLANS
What was one of Alexander Hamiltons primary goals as secretary of the treasury?
To deal with the government's financial issues
Which of hamiltons proposals was attacked as un constitutional by thomas Jefferson?
creation of a national bank
Who was Alexander hamiltons chief opponent to the national bank?
Andrew Jackson.
What were hamiltons and jeffersons impression of national bank?
He opposed it because the Constitution did not grant that power to Congress.
What was Hamiltons plan to pay off national debt?
Hamilton's plan to pay off the national debt had three parts. The first was to pay off all war debt, next was to raise government revenue and last to create a national bank.
What was hamiltons plan for the national debt?
By using national banks. There for when people went to the bank they had owned money. That had made America increase there debt.
What was Alex Hamiltons position on Federalism?
He was a federalist that believed in having a strong central government by creating the national bank.
What was Hamiltons plan for reducing the national debt?
By using national banks. There for when people went to the bank they had owned money. That had made America increase there debt.
