What was Hamilton's Financial Program?

1 Answer
Nov 4, 2017

He wanted to create a federal bank modelled on the Bank of North America


Hamilton and Jefferson were opponents and they both disagreed on whether or not the USA should have a central banking authority. Jefferson opposed it and Hamilton favored it and said that national bank would be a national blessing if not excessive. The Bank of the United States was established in 1791 and its charter was not renewed in 1811 by Vice President Clinton.

Jefferson is famous for these words ""If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.... I believe that banking institutions are more dangerous to our liberties than standing armies.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.""