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.
Hi there!!!!
Your answer it will be the first one!:)\
A.It was built in the north to protect the empire from foreign invaders.
Hope this helps!!!
D:
to temporarily close all banks so a federal banking relief program could be put in place.
have a good day
They became more populated. Some would say more pollution was in the air.
The Economy changed in many ways.
-Seth
<em>Answer : His gold in Cavio were so lavish that the metal was devalved in Egypt.</em>
