What were Hamilton's motives for proposing his plans for taxation assumption and currency that upset Thomas Jefferson?

Answer 1

Basically Hamilton wanted investors to have confidence in the economy. He wanted to bolster national credit, while maintaining some debt to keep investors tied to the American bank. Also he centralized the economy by creating a National Bank. (sorry for the ambiguity, I didn't get much of this stuff when I read Founding Brothers or when we went over it in class) Jeffersonians hated this because they believed it was unconstitutional (didn't explicitly state that Hamilton could create a National Bank in the Constitution). Madison didn't like assumption because his state, VA, didn't have much debt to begin with. Hamilton argued that the Constitution did not explicitly state that he could not do that (principle of elastic clause, loose interpretation of the Constitution rather than a Jeffersonian strict interpretation).