Hamilton, along with the federalists, supported the National Bank. The anitfederalists opposed this bank but it was created despite their insistence. The National Bank was chartered for a term of twenty-two years but not renewed. The objective of the bank was to establish and stabilize the national credit, create a common form of currency, and pay off the war debts. Once the term ended and Hamilton left office, the shares of stock for the bank were sold in order to raise money for the government.
Historical Figures:
- Alexander Hamilton
- George Washington
- Thomas Jefferson
Significance:
The National Bank helped raised funds for the government, helped tie the wealthy merchants to the success of America, and widened the divide between the Federalists and Antifederalists.
Artifact:
The Building where the First National Bank began in
Sources:
"First Bank." Ushistory.org. Independence Hall Association, 4 July 1995. Web. 9 Nov. 2015.
"First Bank of the United States." Wikipedia. Wikimedia Foundation, 4 Nov. 2015. Web. 9 Nov. 2015.
"Bank of the United States." History.com. A&E Television Networks, 1991. Web. 9 Nov. 2015.
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