The National Bank

1. What was Alexander Hamilton’s economic contribution to the United States?

• first collection of taxes

• nothing--he hated money

• The creation of a national bank

• different types of money for each state

1. The bank of the U.S. would have the ability to issue what?

• paper money

• stocks and bonds

• coins

• trading rules

1. How did Hamilton make it a mix of public overseeing and private enterprise?

• The states would send representatives

• The government would take care of the whole thing

• The government would have a small part

• Ordinary business people would make up the board of directors

1. What would this bank along with other Hamilton financial programs be able to do for the U.S.?

• Put us on equal financial footing with the nations of Europe

• Give us money, money, money!

• Make it easier to purchase stocks and bonds

• Keep Europe out of our business

1. Which side endorsed the bank and which side opposed the bank?

• The south opposed the bank

• The north endorsed the bank

• The south endorsed the bank

• The north opposed the bank

1.  What man later agreed with Hamilton and why is this man’s opinion so important?

• President Andrew Jackson

• Edmund Randoph, Attorney General of the U.S.

• Thomas Jefferson, vice president of the U.S.

• John Marshall, who was the chief justice of the Supreme Court

1. What political party formed out of opposition to the National Bank?

• Federalist

• Democratic-Republican

• Anti-federalists

• Political parties are bad and none of them formed out of this issue

President Madison decided that the bank should be renewed in 1816 because...

• His brother in law needed a job.

• Madison was a trouble maker and he knew this would make people mad!

• Hamilton told him to.

• There was no national bank during the War of 1812 and this made it really hard for the nation to raise an army to fight it.

President Andrew Jackson

• did not renew the bank's charter

• did renew the bank's charter

• had nothing to do with the bank's charter

• listened to Alexander Hamilton

What do we have today?

• We don't have a national banking system

• The Federal Reserve

• The 1st National Bank of Savanna

• The 1st National Bank of Houston