American History Hit cover image

President George Washington

American History Hit

NOTE

The National Bank and the Financial Divide

Washington's idea, influenced by the revolutionary experience, was the creation of a national bank spearheaded by Hamilton to stabilize the economy and manage banking. This initiative sparked controversy due to differing state debt levels and the fear of an existential threat to the nation's independence. The divide between Jeffersonian and Washingtonian views became evident, with the potential default of one state's debt impacting the reputation and stability of the entire United States.

00:00
Transcript
Play full episode

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
App store bannerPlay store banner