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.
<span>The 3rd Estate was paying nearly all of the taxes, and they were very poor, not even making enough to feed themselves, while the nobles and clergy barely paid taxes, and had all of the political power
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Answer:
While his programs kept untold numbers of Americans out of poverty, gave others basic health care, and ensured the fundamental rights of citizenship for minorities, in Southeast Asia, millions of Vietnamese lost their lives and homes, more than 58,000 American military personnel lost their lives
Explanation:
While his programs kept untold numbers of Americans out of poverty, gave others basic health care, and ensured the fundamental rights of citizenship for minorities, in Southeast Asia, millions of Vietnamese lost their lives and homes, more than 58,000 American military personnel lost their lives
Answer:
<h3>Calculator and electronic digital watch.</h3>
Explanation:
- The Texas Instruments introduced consumer-electronic calculators in the market in 1972 with its own developed affordable four-ounce portable calculators. The demand for these calculators increased rapidly as it was affordable for all.
- The Texas Instruments revolutionized the digital electronic watch when it introduced its affordable electronic digital watch in 1976. The LED watches became a growing demand in the market as it was affordable and first of its kind.
