Hamilton vs. Jefferson on the Bank

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After the American Revolution, numerous efforts in building a strong nation were attempted. In 1788, the Constistution was ratified by nine states to become the official constistution of America. One year later, 1789, George Washington was elected as the first President and established his cabinet. Two notable names in his cabinet were the Secretary of State, Thomas Jefferson, and Secretary of Treasury, Alexander Hamilton. As the Secretary of Treasury, Hamilton proposed his plan to revive the economy of the United States: assuming state debts and pay all of them, including interest and establishing several methods to get money to pay those debts, including the tariff law and excise tax. To better enforce these laws and to strenghthen the national economy, Hamilton proposed a bank of the United States. The bill for the bank was passed by Congress but Washington, before signing it, was not sure if it was constitutional. He called for the opinions of both Jefferson and Hamilton on the question. Hamilton strongly supported the erection of bank while Jefferson, on the other hand, argued strongly against it. President Washington accepted Hamilton’s argument and signed the bill. The difference argument presented in Jefferson’s and Hamilton’s letters to Washington regarding the constitutionality of the bank played a really important role in the United States history because it sparked the start of political parties in the States and with Hamilton’s view prevailed, set a precedent for enormous federal powers by loose comprehension of the Constitution. In his letter to President Washington, Thomas Jefferson aggressively denied the constitutionality of the bank by his strict explanation of the Constitution. Being a strong supporter for state rights, Jefferson inferred from the Tenth Amendment that any powers not listed as given to the federal government in the Constitution
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