Creating the United States

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One of the early critical differences between Federalists and Republicans was a disagreement on the implied powers of the Constitution to allow for creation of a national bank. Secretary of State Thomas Jefferson advocated a narrow construction of the Constitution that would have prohibited a national bank. Secretary of the Treasury Alexander Hamilton supported the bank with a broad interpretation of the Constitutions implied powers under the general welfare clause. President Washington sided with Hamilton.

(Transcription)

“it tends to create a disability in the government ...”


One of the early critical differences between Federalists and Republicans was a disagreement on the implied powers of the Constitution to allow for creation of a national bank. Secretary of State Thomas Jefferson advocated a narrow construction of the Constitution that would have prohibited a national bank. Secretary of the Treasury Alexander Hamilton supported the bank with a broad interpretation of the Constitutions implied powers under the general welfare clause. President Washington sided with Hamilton.