The Constitutionality Of A National Bank

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The Debate over the Constitutionality of a National Bank The creation of the first national bank in the United States was of utmost importance in setting precedence for how much power the constitution actually grants the government. The debate over whether to create a national bank raised many questions over the constitution that hadn’t been tested before. It also raised questions about what the government can do when the constitution has no written clause on a certain subject. In looking at the arguments from Alexander Hamilton, James Madison, and Thomas Jefferson regarding a national bank, people can find out more about how some of the leading founders of the Constitution wanted to see the United States government run. Thomas…show more content…
He defines necessary very strictly citing that power given to the national government has to be absolutely necessary for the government to take that power. He continues that though it might be convenient or nice for the national government to have this power that it is not strictly necessary for the government to have. (1) 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) One of the biggest arguments in favor of a national bank was that of paying of the debts to the soldiers of the revolutionary war. The government owed a lot of money to soldiers that had fought in the revolutionary war and had not been payed what they were promised. Jefferson was worried about setting up a national bank to pay them back because he thought that the ‘I owe yous’ created had depreciated in value. He did not want to set up a system of banking that would cheat war veterans out of the money they had rightfully earned. (1) James Madison generally opposed the national
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