Alexander Hamilton October 14

Alexander Hamilton October 14 2011

Hamilton is also in favor of creating a national bank, the first bank of the United States. The bank would help accomplish Hamilton's two major goals of building up business and industry in the United States. The bank, under the control the government, would give the government leverage and influence over the business sectors. Business would benefit because a bank as large as this would be able give out huge loans that the state banks could not, and would satisfy the need for large concentrations of capital or financing needed for industrial growth.

I think that Hamilton was trying to stabilize the economy for generation to come by creating national banks. He also was focusing on how to eliminate national debt by paying them off in full and raising taxes. By establishing national bank under federal reserve system the government will be able to control the nation wealthy and boost the business industry. All states will be under one currency exchange, policies and will be able to maintain loans in the commercial banks sector. This take place in Philadelphia which at the time was the largest cities in the world. State bank at the time didn't have that kind of money to lend out.
I choose this quote because the government and the bank goes hand in hand with each other because the federal government hold's one fifth of the bank's total stocks and have to produce reports to the secretary of the treasury thanks to Sir Hamilton. The bank also help to ensure the government that our economy is growing by creating jobs and loans to businesses.