who facored the bank o the US?
Alexander Hamilton
they beleived it favored a small number of rich investors.
Alexander Hamilton favored both bank notes and taxes on imported foreign goods. He advocated for the establishment of a national bank to issue bank notes, which would stabilize the economy and create a uniform currency. Additionally, he supported tariffs on imported goods as a means to generate revenue for the federal government and protect American industries. Both policies were integral to his economic vision for the young nation.
The First Bank of the US was located in Philadelphia, Pennsylvania.
Andrew Jackson was noted as being a foe of the Second Bank of the US.
He thought it favored only rich people and was not needed... Don't quote me on that
He felt the banks polices favored too much wealthy people, and hurt an average person. -B
Alexander Hamilton was the leader and he lead the Federalists so the political party who favored development of industry on a national scale and favored a national bank is the federalists.
Alexander Hamilton
Alexander Hamilton
they beleived it favored a small number of rich investors.
The Bank
He felt the banks polices favored too much wealthy people, and hurt an average person. -B
He felt the banks polices favored too much wealthy people, and hurt an average person. -B
He felt the banks polices favored too much wealthy people, and hurt an average person. -B
Most of the government favored the wealthy and the privileged, but Jackson especially singled out the Bank of the US which in those days made loans to individuals. All government funds were deposited in the bank, so it had a lot of money to loan out. The bank not only favored the wealthy friends of its president with its loans, but influenced Congressmen by making them loans with favorable terms, essentially bribing them. He believed with some good evidence that John Q. Adams won the presidency over him in 1824 because of the influence of the bank over the House of Representatives.,
Most of the government favored the wealthy and the privileged, but Jackson especially singled out the Bank of the US which in those days made loans to individuals. All government funds were deposited in the bank, so it had a lot of money to loan out. The bank not only favored the wealthy friends of its president with its loans, but influenced Congressmen by making them loans with favorable terms, essentially bribing them. He believed with some good evidence that John Q. Adams won the presidency over him in 1824 because of the influence of the bank over the House of Representatives.,