Differences Between Thomas Jefferson And Alexander Hamilton

In 1791, Thomas Jefferson and Alexander Hamilton argued for what they thought would be most beneficial for America. Hamilton, influenced by England's financial system, proposed to establish a National Bank (http://www.digitalhistory.uh.edu). As a Federalist, he wanted a strong, centralized government with a financial system to operate different branches of America. He believed in commerce and manufacturing, wanting to raise tariffs and promote government development. On the other hand, Jefferson opposed the bank idea, believing in self-sufficient agriculture and freedom in a rural society (http://www.let.rug.nl). A major factor to the validity in their arguments is from The Necessary and Proper Clause of the Constitution. They had different interpretations of what was necessary and proper for the country, and they both took their reasonings to Washington. …show more content…
He stated that it would interfere with the development of the state banks, it would give wealthy businessmen a far better advantage, and the Constitution did not give the National Government the power to establish a bank (http://www.digitalhistory.uh.edu). According to Latner, scholars also suspect Jefferson feared debt, and he believed that a National Bank would bring that into the country (Latner 883). Hamilton also brought his objectives forward, stating that a National Bank would: make money through borrowing, loan money to the government when necessary, and issue a currency that was consistent throughout the country. Ultimately, Hamilton won Washington's approval and a National Bank was established, although both sides were intensely