National Bank
Which of the following were reasons that Jefferson and the Republicans opposed a national bank? "Click all res?
Which of the following were reasons that Jefferson and the Republicans opposed a national bank? "Click all responses that apply."
A. The authority to grant a bank charter is not specifically authorized by the Constitution.
B. A national bank would impinge on the authority of local banks.
C. None of the above.
D. The Bank would be a dangerous extension of governmental power.
E. The Bank would serve the interests of an elite few at the expense of farmers and the working class.
F. I'm not sure.
All of those - A, B, D, and E are, I think, true (though I don't have the constitution memorized, so I am not certain on A, but I beleive it's so).
The national bank, nowadays call the Federal Reserve (The Fed), has proven to have been all those things. It is a total disaster for our country. It has done the precise opposite of its founding mission and purpose. But I digress. You can read it all for yourself on, say, mises.org, or Ron Paul's book on ending the Fed.