Thomas Jefferson: “Opinion on the Constitutionality of a National Bank”(1791)
Historians have typically sided with Hamilton in regard to the national bank, either because they agree with his interpretation of the Constitution or owing to the perceived benefits of stabilizing the currency and funding the national debt. Hamilton's proposals were far from radical, as the British had a national bank, and a similar institution had been created under the Articles of Confederation. Nonetheless, many Americans considered these policies to be “un-American,” and some politicians insisted that Hamilton was overly fascinated with British forms because he was an...
Jefferson's ”Opinion on the Constitutionality of a National Bank“ (National Archives and Records Administration)View Full Size