Explanation: Hamilton believed a national bank was necessary to stabilize and improve the nation's credit, and to improve handling of the financial business of the United States government under the newly enacted Constitution.
Answer :In December 1790, he submitted his proposal for a national bank. While his report would stabilize the nation's credit status, he said, the United States needed a bank to create an active economy. This proposal was met with an even fiercer round of critics. Here, James Madison parted company with Hamilton, arguing that the enumerated powers of the government did not include the authority to create a bank. Perhaps no one opposed Hamilton as vehemently as Thomas Jefferson. The new Secretary of State was so passionately anti-national bank that he wrote Washington a letter arguing his position. A bank, he penned, represented a boundless field of power and constitutional overreach.
