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Cons of the non renewal of the bank o the USA

Sagot :

scouteo

The correct answer to this open question is the following.

Although there are no options for this question, we can say the following.

There were two Banks of the United States at two different times in US history. Which one are you referring to?

To help you answer the question, we are going to assume you are referring to the First Bank of the United States.

Alexander Hamilton, Secretary of Treasury of the United States under the George Washington administration, considered that having a national bank was a good idea for the country. So the First Bank of the United States was established in 1791, and the cons were that it served as a "safe box" for the funds of the US, and the other advantage was that it was going to serve as a fiscal agent for the federal government.

Since its conception, the bank received many critics from other members of the cabinet like Thomas Jefferson, and finally, in 1811, the charter of the bank was not renewed.

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