The Washington administration was the first to bring together in the cabinet of the United States, the Secretary of State Thomas Jefferson and the Secretary of Treasury Alexander Hamilton. Jefferson and Hamilton began to take different views when the government began to address the issue of the old war debts and the worthless paper money left over from the days of the Confederation. Hamilton suggested that the government should create the Bank of the United States, which would be a public-private partnership with both government and private investors. The Bank of the United States was to handle the government’s banking needs. Jefferson protested because this was not allowed by the Constitution. Hamilton opposed the view of Jefferson and stated that the Constitution’s writers could not have predicted the need of a bank for the United S....

Number Of Pages: 7

Number Of Words: 1836

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