Alexander Hamilton's Opinion as to the Constitutionality of the Bank of the United States

By Alexander Hamilton

Unfortunately, one of the best known aspects of Alexander Hamilton’s (1755-1804) life is the manner in which he died, being shot and killed in a famous duel with Aaron Burr in 1804. But Hamilton became one of the most instrumental Founding Fathers of the United States in that time, not only in helping draft and gain support for the U.S. Constitution but in also leading the Federalist party and building the institutions of the young federal government as Washington’s Secretary of Treasury.


Hamilton is also well remembered for his authorship, along with John Jay and James Madison, of the Federalist Papers. The Federalist Papers sought to rally support for the Constitution’s approval when those three anonymously wrote them, but for readers and scholars today they also help us get into the mindset of the Founding Fathers, including the “Father of the Constitution” himself. They also help demonstrate how men of vastly different political ideologies came to accept the same Constitution.


One of the biggest battles was over the chartering of a national bank, a topic that seems trivial today given the size and scope of the federal government. At the founding, however, the Southern states and Thomas Jefferson’s Democratic Party were skeptical of the necessity of a national bank, while Hamilton’s Federalists insisted that it would help the nation pay off its debts and manage its finances. Eventually Hamilton won out, but the First U.S. Bank, located in Philadelphia, was nonetheless run by a private company, ensuring limits on government control. Before the First U.S. Bank was chartered, Hamilton wrote a defense of the chartering of a national bank by asserting it was constitutional. 

• Language: English
• Publisher: Krill Press
• Release date: Nov 21, 2015
• ISBN: 9781518308055

Alexander Hamilton

Alexander Hamilton (1755-1804) was an American statesman, legal scholar, military leader, lawyer, and economist. After serving as a senior aide to General George Washington during the American Revolutionary War, Hamilton practiced law and founded the Bank of New York. As the need to replace the confederal government became apparent, Hamilton advocated for a Constitutional Convention to be held in Philadelphia. Following the convention, Hamilton wrote 51 of the 85 Federalist Papers, essays and articles intended to promote the ratification of the new Constitution. He then served as head of the Treasury Department under President Washington, later campaigning for Thomas Jefferson’s presidential nomination. In 1804, following a dispute, Hamilton was killed in a duel by politician and lawyer Aaron Burr.

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ALEXANDER HAMILTON’S OPINION AS TO THE CONSTITUTIONALITY OF THE BANK OF THE UNITED STATES

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Alexander Hamilton

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TABLE OF CONTENTS

INTRODUCTION

Hamilton’s Opinion as to the Constitutionality of the Bank of the United States, 1791

Alexander Hamilton’s Opinion as to the Constitutionality of the Bank of the United States

By

Alexander Hamilton

Alexander Hamilton’s Opinion as to the Constitutionality of the Bank of the United States

Published by Firework Press

New York City, NY

First published circa 1804

Copyright © Firework Press, 2015

All rights reserved

Except in the United States of America, this book is sold subject to the condition that it shall not, by way of trade or otherwise, be lent, re-sold, hired out, or otherwise circulated without the publisher’s prior consent in any form of binding or cover other than that in which it is published and without a similar condition including this condition being imposed on the subsequent purchaser.

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INTRODUCTION

..................

UNFORTUNATELY, ONE OF THE BEST known aspects of Alexander Hamilton’s (1755-1804) life is the manner in which he died, being shot and killed in a famous duel with Aaron Burr in 1804. But Hamilton became one of the most instrumental Founding Fathers of the United States in that time, not only in helping draft and gain support for the U.S. Constitution but in also leading the Federalist party and building the institutions of the young federal government as Washington’s Secretary of Treasury.

One of the biggest battles was over the chartering of a national bank, a topic that seems trivial today given the size and scope of the federal government. At the founding, however, the Southern states and Thomas Jefferson’s Democratic Party were skeptical of the necessity of a national bank, while Hamilton’s Federalists insisted that it would help the nation pay off its debts and manage its finances. Eventually Hamilton won out, but the First U.S. Bank, located in Philadelphia, was nonetheless run by a private company, ensuring limits on government control.

Before the First U.S. Bank was chartered, Hamilton wrote a defense of the chartering of a national bank by asserting it was constitutional.

HAMILTON’S OPINION AS TO THE CONSTITUTIONALITY OF THE BANK OF THE UNITED STATES, 1791

..................

[GIVEN WHILE HE WAS SECRETARY of the Treasury under the First Administration, George Washington, President, Thomas Jefferson, Secretary of State, and Edmund Randolph, Attorney-General.]

The Secretary of the Treasury having perused with attention the papers containing the opinions of the Secretary of State and Attorney General, concerning the constitutionality of the bill for establishing a National Bank, proceeds, according to the order of the President, to submit the reasons which have induced him to entertain a different opinion.

It will naturally have been anticipated, that in performing this task, he would feel uncommon solicitude. Personal considerations alone, arising from the reflection that the measure originated with him, would be sufficient to produce it. The sense which he has manifested of the great importance of such an institution to the successful administration of the department under his particular care, and an expectation of serious ill consequences to result from a failure of the measure, do