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united states history i: beginn
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united states history i: beginnings to the industrial revolution ic qtr b behl continuous learning center - credit bearing
(tutor)
washingtons presidency
the debate over the national bank
jefferson thought that the creation of a national bank was unconstitutional because he was a
hamilton thought that the creation of a national bank was constitutional because he was a strict constructionist.
loose constructionist.
who won the argument at that time?
- Strict Constructionist: Jefferson believed in a strict interpretation of the Constitution. He thought that if the Constitution did not explicitly give the government the power to create a national bank, then it was unconstitutional.
- Loose Constructionist: Hamilton believed in a loose interpretation of the Constitution. He thought that the "necessary and proper" clause (also known as the elastic clause) gave the government the implied power to create a national bank.
- Who Won: Hamilton won the argument at that time. Washington signed the bill creating the First Bank of the United States into law in 1791.
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- Jefferson: strict constructionist
- Hamilton: loose constructionist
- Who won: Hamilton