He sought to use Britain’s economic model to create a nation that would one day be as influential as Britain. To do this, Hamilton would have to create a federal bank that would handle the economy and fund a strong government. He knew the United States would have secure currency that everyone trusted if the Bank of the United States was authorized. Hamilton believed that a bank was necessary for the advancement of the U.S. He said. “The powers contained in a constitution. . . ought to be construed liberally in advancement of the public good.” Jefferson had quite the opposite views on the Bank of the United States. He was against the idea of the bank because it would centralize powers in the big northern cities. Jefferson also feared that the banks would only benefit the rich. He did not believe that Congress had the power to create the Bank of the Unites States. Jefferson defended his beliefs by saying, “The second general phrase is to make all laws necessary and proper for carrying into execution the enumerated powers. But they can all be carried into execution without a bank. A bank therefore is not necessary, and consequently not authorized by this phrase”. Hamilton and Jefferson also
He sought to use Britain’s economic model to create a nation that would one day be as influential as Britain. To do this, Hamilton would have to create a federal bank that would handle the economy and fund a strong government. He knew the United States would have secure currency that everyone trusted if the Bank of the United States was authorized. Hamilton believed that a bank was necessary for the advancement of the U.S. He said. “The powers contained in a constitution. . . ought to be construed liberally in advancement of the public good.” Jefferson had quite the opposite views on the Bank of the United States. He was against the idea of the bank because it would centralize powers in the big northern cities. Jefferson also feared that the banks would only benefit the rich. He did not believe that Congress had the power to create the Bank of the Unites States. Jefferson defended his beliefs by saying, “The second general phrase is to make all laws necessary and proper for carrying into execution the enumerated powers. But they can all be carried into execution without a bank. A bank therefore is not necessary, and consequently not authorized by this phrase”. Hamilton and Jefferson also