Question
Why did Alexander Hamilton think a national bank would strengthen the central government?
(1 point)
Responses
The bank would help provide stability for the U.S. economy.
The bank would create a monopoly that would eliminate state banks.
The bank would encourage foreign competition for manufactured goods.
The bank would have the power to regulate interstate commerce.
(1 point)
Responses
The bank would help provide stability for the U.S. economy.
The bank would create a monopoly that would eliminate state banks.
The bank would encourage foreign competition for manufactured goods.
The bank would have the power to regulate interstate commerce.
Answers
GPT-4o mini
The correct response is: **The bank would help provide stability for the U.S. economy.**
Alexander Hamilton believed that a national bank would help stabilize the economy by providing a uniform currency, facilitating government transactions, and serving as a reliable source of credit for both the government and businesses. This, in turn, would strengthen the central government by promoting economic growth and fostering national unity.
Alexander Hamilton believed that a national bank would help stabilize the economy by providing a uniform currency, facilitating government transactions, and serving as a reliable source of credit for both the government and businesses. This, in turn, would strengthen the central government by promoting economic growth and fostering national unity.