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.
Answer:
Tariff
Explanation:
Tariffs are taxes placed on imported goods
<span>In the Dutch economy
during the early 1600s, industrial revolution, agricultural revolution, and the
reclamation of land from sea, helped it to achieve the greater standard in
Europe. In Spanish economy While in
Spanish economy, there is a failure during this era because of the inefficient
taxation, weak kings, and the focus on American colonies.</span>
He created a colonial legislature so it would be C ^_^
The Industrial Revolution, which was the transition from hand production methods to machines occurred in Europe and the US between 1820 and 1840, brought as result the use new chemical and iron production processes, the use of steam power, the development of machine tools as well as the rise of the factory system.
The effects of this Industrial Revolution were notable in Northwest of America, specifically in Boston, New York City, and Philadelphia, where such industrial development transformed them into industrial cities and growing commercial centers.
<em>Some of the features which showed that such Northwest cities were becoming an urban society were the dense network of railroads, canals present in them as well as the telegraph network which linked the nation economically.
</em>
