
President George Washington
American History Hit
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.
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