<span> The Treaty affected Germany in more than one way. It
had an effect politically, economically, socially and diplomatically and
much of the transformation of Germany between 1919 and 1939 can be
attributed to consequences of the Treaty of Versailles.
</span>
<span>In accordance with article 231 of the treaty of
Versailles, the Guilt clause, Germany acknowledged that they started
World War one.</span>
The partnership formed between Germany, Austria-Hungary, and Italy was called the Triple Alliance.
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Hamilton's next objective was to create a Bank of the United States, modeled after the Bank of England. A national bank would collect taxes, hold government funds, and make loans to the government and borrowers. One criticism directed against the bank was "unrepublican"--it would encourage speculation and corruption. The bank was also opposed on constitutional grounds. Adopting a position known as "strict constructionism," Thomas Jefferson and James Madison charged that a national bank was unconstitutional since the Constitution did not specifically give Congress the power to create a bank.
Hamilton responded to the charge that a bank was unconstitutional by formulating the doctrine of "implied powers." He argued that Congress had the power to create a bank because the Constitution granted the federal government authority to do anything "necessary and proper" to carry out its constitutional functions (in this case its fiscal duties).
In 1791, Congress passed a bill creating a national bank for a term of 20 years, leaving the question of the bank's constitutionality up to President Washington. The president reluctantly decided to sign the measure out of a conviction that a bank was necessary for the nation's financial well-being.
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