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why did hamilton and jefferson dosagree over the establishment of the national bank?

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  • 1 decade ago
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    Both knew the importance of regulated currency. Hamilton sought to strengthen the federal government. He believed a strong federal government was essential to protect the United States foreign interests. He was right. A banking system would also allow the government to place foreign investments and manipulate foreign markets.

    Jefferson feared the a strong central government would lead to another totalitarian leader. He wanted to continuously check the power of government. What better way than to forbid them from establishing, strengthening, and maintaining a national currency? If the government stepped out of line, states could simply withhold money, which would cripple government.

    The answer was somewhere in the middle. I believe if Hamilton and Jefferson were alive today, both would be terrified by the strength of the federal government. The federal government's destiny to rule was sealed after the pro-federal North defeated the pro-state South during the Civil War.

  • 1 decade ago

    Yes.

    Jefferson believed in the constitution. Hamilton believed in making he and his friends very wealthy.

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