The Issue Of A State Charter

In the United States, each of the fifty states has its own states constitution, which contains the same basic provisions as the United States Constitution; however, states constitution is generally more detailed than the national constitution.In the United States, each of the fifty states has its own states constitution, which contains the same basic provisions as the United States Constitution; however, states constitution is generally more detailed than the national constitution.In the United States, each of the fifty states has its own states constitution, which contains the same basic provisions as the United States Constitution; however, states constitution is generally more detailed than the national constitution.In the United States,

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

To understand the reason, and perhaps necessity, for the conception of the Currency act of 1764, one must have a grasp of the economic situation in the American colonies prior to 1764. The currency used in the American colonies has always revolved around, specie or the two types of paper currency, legislatively issued legal tender or land bank notes (Finkelstein 39). Foreign specie was far more common than British specie, due to an export prohibition of British specie and an unfavorable balance of trade between the American colonies and Britain that drained whatever British specie

The United States Constitution begins with the simple phrase “We the People”. Yet, with three simple words, the ideology it stands for has shaped the entire country (O’Connor et al., 2011). The short phrase signifies that the document, and thus, the government, is based upon the people themselves. The Constitution reflects the culture and ideologies of its citizens. Similarly, state constitutions reflect the people, albeit in a more specific locality. The key differences between the United States Constitution and that of local states are due to the distinctions between the scope and characteristics of the people they govern.

and thus pave the way for the modern national state that would emerge after the

However, the state of Maryland tried to block the activity of the national bank by imposing tax to all the notes that were issued. The branch manager of the bank in Baltimore refused to pay taxes and lawsuits were filed in the Maryland Court. However, the case was brought up to the U.S Supreme Court as the Constitution did not subjectively describe that Federal Government had the authority to establish a bank. The U.S Supreme Court led by Chief Justice John Marshall ruled out the case that acknowledges that the Congress has the rights to establish a national bank under Article 1 Section 8 in the American Constitution. This shows that the US Constitution was vaguely described and gave the Congress an insight to pass laws as long as it is within the Constitution. However, this gave the Federal Government to create the mentality to indirectly gain more power which restricts the States sovereignty.

Even before the creation of the Federal Reserve, banks were used by the public just as we use them today. Deposits were made into savings accounts. Loans were taken out to mortgage a home or finance a new business. Banknotes were issued and spent when the public borrowed from the banks. Borrowers spent these banknotes just as paper money is spent today. These bank notes were valued as money since they were backed by the promise that they would be exchanged on demand for either gold or silver.

California has followed the steps of many American states by committing its efforts on ensuring educational developments through improved governance systems. In the last half a decade or so, there have emerged diverse levels of studies in California State majorly because of three reasons which include several legislative practices, institutions, and participation of state agencies. The California Educational Commission was created as early as 1899 with a number of 70 members to study the state’s educational program with an effort of improving it. Of much interest was the recommendation that legislation had to be twisted to form a uniform board for the governing of normal colleges and universities in California. This issue resulted in the formulation of a law that placed the normal colleges and universities in California under the State Board of Education.

1913: Federal Reserve Act made Federal Reserve Board to oversee national banking system with 12 regional districts, paper money issuance, and its-own central bank.

In an attempt to put the power back in the states and minimize the control of the federal government, Texas Governor Greg Abbott has called for a Convention of the States to amend the U.S. Constitution. Governor Abbott has also proposed nine amendments that would dramatically elevate power within the state. Abbott believes that the federal government has overstepped its boundaries as set forth by the 10th amendment and it is the state's duty to take back the power that was once theirs (Texas Gov.).

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.

Arkansas state constitution is divided into nineteen articles. Article one deal with the boundaries of the state. The boundaries of are Arkansas begins at the main channel of the Mississippi River, west with the southern boundary line to Missouri and west to the north bank of the Red River. Article two is declaration of rights, in my opinion they are the similar to the bill of rights and remaining amendments of the United States Constitution. Article three is the Franchise and Elections, it basically the guideline for individuals that would like to become elected officials.

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

The First Bank of United States – 1791 to 1811. Mr. Hamilton urged Congress to adopt the model he had come up with, which included one national bank that would hold the federal government’s deposits and would lend to the government and business. Though there was much opposition, the proposal was accepted but the bank’s charter was given a 20 year limit. The bank, known as First Bank or Bank of United States, helped to bring the economy of the country together. However, it was a private institution where foreigners owned 70 percent of the bank and this concerned the citizens of the United States. When the charter was up for renewal it was rejected and the bank was closed in 1811. ("First Bank of the United States" 1-16)

The bank was not a central bank; it just held an account for the government and had little control over the fiscal policies in each state. However, the state banks still resented the power that the bank had. This is extremely hard to comprehend when comparing the power of the First Bank and the current Federal Reserve System.