A few days ago
what were the principal features of Hamilton’s economic program & what were its opponents’ primary objections?
United States History 1750-1800
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A few days ago
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First, Hamilton established the National Bank…and initiated “funding at par” and “assumption.” He pretty much asked Congress to fund the national debt (more than $54 million at the time) and to help the states pay for the debts they had incurred during the Revolution.
Its opponents were the Jeffersonians…who believed that nowhere in the Constitution was there authorization to create a National Bank. Because it wasn’t explicitly stated in the Constitution, Jefferson said that economic features were solely the business of individual states.
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