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densk [106]
3 years ago
7

What did Hamilton plan to do with the money from taxes? Why did Jefferson and Madison oppose Hamilton’s policies?

History
2 answers:
Alik [6]3 years ago
6 0

Answer:

Jefferson opposed Hamilton's plan for the federal government to pay the domestic and state debts. ... Most importantly, he opposed Hamilton's proposal for a national bank because he believed that the national government was allowed to do only those things that were explicitly stated in the Constitution.

Explanation:

antoniya [11.8K]3 years ago
5 0

Answer:

Hamilton wanted a national bank, but Jefferson and Madison feared it would make the government too centralized.

Explanation:

Hamilton's financial plan was too retire the old depreciated obligations by borrowing new money at a lower interest rate. So, a national bank would collect taxes, hold government funds, then make loans to the government and borrowers.

Jefferson and Madison opposed this plan because they feared it would create a centralized government that took power which they believed was better kept close to the people in local and state governments.

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