Question

Is the establishment of a national bank constitutional? Why or why not? in hamiltons time

Answer 1

The first establishment was considered constitutional. Before the first national bank, each state was capable of having their own form of currency, which posed problems when dealing with national trade. They formed a national bank, which was great for a while, but when the renewal for the 2nd National bank came around, the new president vetoed it. Nowadays we still have a national currency, but the role of a bank is distributed out into forms of private banking. -Hope that helps.