Why did Jefferson oppose Hamilton’s plan for creating a national bank? Select all that apply.
(1 point)
Responses
He argued that Congress did not have the constitutional power to establish it.
He argued that Congress did not have the constitutional power to establish it.
He felt a national bank was necessary for the government to collect taxes and pay its bills.
He felt a national bank was necessary for the government to collect taxes and pay its bills.
He believed that it gave the federal government too much power.
He believed that it gave the federal government too much power.
He believed that Americans would protest if it was established.
He argued that Congress did not have the constitutional power to establish it.
He believed that it gave the federal government too much power.
The correct responses are:
(1) He argued that Congress did not have the constitutional power to establish it.
(3) He believed that it gave the federal government too much power.
The correct responses are:
- He argued that Congress did not have the constitutional power to establish it.
- He believed that it gave the federal government too much power.
To determine the correct answers, we need to understand Jefferson's position on Hamilton's plan for creating a national bank.
First, to understand why Jefferson opposed Hamilton's plan, we need to examine the arguments he made against it. One of the main arguments Jefferson put forward was that Congress did not have the constitutional power to establish a national bank. This view was based on his strict interpretation of the Constitution, where he believed that the federal government should only exercise those powers explicitly granted to it by the Constitution, and that the power to establish a national bank was not one of those powers.
Second, Jefferson also believed that establishing a national bank would give the federal government too much power. He worried that a national bank would concentrate financial and economic control in the hands of a few wealthy individuals and the central government, potentially leading to corruption and the loss of individual freedoms. Jefferson was a proponent of states' rights and believed in a limited federal government, so he saw the establishment of a national bank as a threat to that vision.
Therefore, the correct answers are:
- He argued that Congress did not have the constitutional power to establish it.
- He believed that it gave the federal government too much power.