The Democratic-Republicans believed that the bank would benefit manufacturers at the expense of small farmers. They were concerned that a national bank would concentrate economic power in the hands of a few wealthy elites, undermining the interests of agrarian society and small-scale farmers, who were fundamental to their political base. Additionally, they feared that a strong centralized bank could weaken the decentralization of power, which was a key principle for the Democratic-Republicans who advocated for limited federal government and states' rights.
Why might the Democratic Republican Party have rejected the Federalists’ plan to develop a national bank? (1 point) Responses The Democratic Republicans believed that the bank would benefit manufacturers at the expense of small farmers. The Democratic Republicans believed that the bank would benefit manufacturers at the expense of small farmers. The Democratic Republicans believed that the bank would weaken the federal government. The Democratic Republicans believed that the bank would weaken the federal government. The Democratic Republicans believed that the bank would help finance wars. The Democratic Republicans believed that the bank would help finance wars. The Democratic Republicans believed that the bank would be bad for cities and manufacturing...
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