Mayer Amschel Rothschild: Founding Fathers Of The United States

Another provision in the Constitution that was used to defend the constitutionalist of a national bank was the ‘regulate commerce with foreign nations’ clause. Jefferson argues that this is again unnecessary because the creation of the bank and the regulating commerce are two very different propositions. One is making something to be bought and sold while another is regulating things that are being bought and sold. Jefferson makes it clear that a bank is not necessary to regulate commerce in the United States or in foreign nations with a national bank. (1)

Fisher Ames was one of the great founding fathers who helped start the United States of America. Although citizens today may not hear or know much about him he is as much a part of the history of this nation as other more known men such as Thomas Jefferson. Ames was a good man who did not want conflict and enjoyed the simple things in life. This is seen in the following quote: “…in his distaste for publick diversions, and his preference of simple pleasures” (Ames 1809, page ix). All in all, fisher Ames had an interesting background, important views on Christianity and the Bible and how they relate to government, as well as equally important views on government in general.

The Bank of the United States was designed to make money and build an economy. It was designed by men like Alexander Hamilton and Robert Morris, but did not benefit the common citizen as much as wealthy investors. Why did a fledgling government need to borrow millions from overseas in order to invest in a “national” bank, to turn around and then borrow the same money back and pay interest on it? The banking system developed by Alexander Hamilton and Robert Morris was prime pickings for speculators, and laid the groundwork for a history of unscrupulous activity regarding our nation’s money supply that continues to this day. The signatures on the Constitution were barely dry before corruption and

In their mind liberty was linked to democracy and not property. To have political influence based on amount of property was ?politic as well as just, that the interests and rights of every class should ve duly represented and understood in the public councils.? ? James Madison

Thomas Jefferson says that a wise and frugal government will keep its own people from turning against each other, but also enable them to be independent and allow them to economically expand on their own whilst the government does not unfairly take what the citizens earned through hard work. Jefferson might have said this so that he could win favor with the citizens, because it complimented them and at the same time also gave an insight on what he was planning to do as the third president of the United States.

“From their vast knowledge of history, the American Founding Fathers knew that unlimited political power cannot safely be trusted to anyone - not to appointed officials of government, not to elected representatives of the people, not to the people themselves,” says

The Founding Fathers: A Reform Caucus in Action, written by John P. Roche, addressed the difficulty that the Founding Fathers had in constructing the U.S. Constitution because of the high level of stress they received and the limited amount of time that they had to carry out the formation of this document while keeping the best interest of the country as a priority. John P. Roche starts of by commenting on why the creation of the Constitution was so effective and how the Articles of Confederation benefitted the ratification of the new U.S. Government. As it turns out, the delegates elected to attend Pennsylvania were mainly people who had served in Congress and had experience in the weakness of the Articles in granting too little power to the national government. In addition, the delegates were appointed by the state legislatures, not by the people, as justified by the Articles of Confederation.

An explanation of this quote is in order to find a balance between preserving individual rights and forming a long-lasting union the Declaration of Independence grants the United States’ citizens the power to shape or change their government. The government being able to be shaped by the United States’ citizens creates a long-lasting union for America. The United States of America’s inhabitants are given the power to shape the United States’ government as they see

Andrew Jackson wrote a letter to Congress on July 10, 1832, saying the “rich and powerful too often bend the acts of government to their selfish purposes" (Doc. F). Jackson is talking about the national bank in this letter to Congress and it was very well known from his close friends that he had “always been afraid of banks... [and called bankers} ‘“vipers and thieves’” (Shi, Tindall, 324). He thought that the national bank caused the government to have too much control over the people, but the way

During George Washington’s presidency of our new nation, there was a large disagreement between his Secretary of Treasury, Alexander Hamilton and his Secretary of State, Thomas Jefferson on several economic and political challenges.To get the nation out of extreme debt, Hamilton came up with a financial plan that included the creation of a national bank. This national bank would be a safe place to deposit government funds, a source of loans for the government and businesses, and the creation of a national mint. However, Jefferson was strongly opposed to the idea of a national bank, he believed it was strictly against the Constitution and would give the federal government too much power. Hamilton argued that Article I Section 8 of the Constitution

The bank provided credit to growing enterprises, issued bank notes which served as a dependable medium of exchange throughout the country, and it exercised a restraining effect on the less well manages state banks. Nicholas Biddle, who ran the Bank, tried to put the institution on a sound and prosperous basis. But Andrew Jackson was always determined to destroy it (Brinkley, 249). The Bank had two opposition groups: the “soft-money” faction and the “hard-money” faction. Soft money advocates objected to the Bank of the United States because it restrained the state banks from issuing notes freely. Hard money advocates believed that coin was the only safe currency, and they condemned all banks that issued bank notes.

"It (the Second Bank) enjoys an exclusive privilege of banking under the authority of the General Government, a monopoly of its favor and support, and, as a necessary consequence, almost a monopoly of the foreign and domestic exchange" (Hofstadte 291).

The validity of President Andrew Jackson’s response to the Bank War issue has been contradicted by many, but his reasoning was supported by fact and inevitably beneficial to the country. Jackson’s primary involvement with the Second Bank of the United States arose during the suggested governmental re-chartering of the institution. It was during this period that the necessity and value of the Bank’s services were questioned.

In the late 1820s, Nicholas Biddle, the president of the national bank, wanted to strengthen the national Bank, stop the over issuing of money to small local banks, and create a more stable currency in order to prevent inflation. In 1832, there was a bill to extend the charter, which expired in 1836, another twenty years. However, Jackson refused to sign the bill saying that the bank would use it’s power to prevent his reelection. But, In his veto of the charter to the senate he takes the side of the common man, saying the rich and powerful too often bend the acts of government to their selfish purposes.” foot note Here Jackson seems as like the president for the everyday American, but, his real reason for vetoing the charter was for reelection purposes, which reveals that Jackson was not a good president because he put his agenda in front of the people’s. In replace of the National Bank, Jackson established spaller states wide “pet banks”. Due to the elimination of National bank, the government lost its ability to regulate the pet bank’s activities. This led to the constant printing of paper money in order to help finance many of the 18th century reforms. This inflation caused the value of the dollar to dramatically declined. The wageworks’, whom Jackson said that this bank reform would benefit the most, value of salary continually decreased. Jackson attempted to fix the problem by passing the Specie Circular, which required land purchasers to pay in gold and silver coins. But, Britain contemporaneously required that Americans pay them in gold and silver as well. Due to the general lack of gold in America, many banks were forced to close. Many people lost their money and trade slowed down as Britain need for cotton lessened. This ultimately led to the collapse of the economy and resulted in a depression. What Andrew Jackson had done to benefit the common man who couldn’t get

There have been many controversies since the United States declared independence in 1776. One of the many domestic issues that divided American citizens was developing the First National Bank in the late 1700s. Hamilton was in favor, while Jefferson opposed and American citizens chose their side based on what they believed what was best for the country. Hamilton proposed a Report on a National Bank in December of 1790 announcing what the National Bank would include. Hamilton’s proposal included, “The bank’s stock would be worth $10,000,000. 20,000 shares would be sold privately at $400 per share ... 5,000 shares or $2,000,000 of bank stock would be bought by the U.S. government. The bank would be run by a 25-man board of directors - 20 chosen by the shareholders and 5 by the government. The bank’s president would be elected by the board of directors. Notes and bills (money) issued by the bank would be redeemable on demand ... and would be accepted by the U.S. government for all payments due. The bank’s charter would run for 20 years and would be subject to renewal by Congress. The bank would be allowed to establish branch offices in other cities; its main branch would be in Philadelphia, the nation’s capital” (http://www.digitalhistory.uh.edu/teachers/lesson_plans/pdfs/unit3_ 4.pdf). Although the first part of the bank bill, establishing a national mint, did pass with ease, supporters and opposers debated the rest of the bill, which included the development of