Question

Why did Alexander Hamilton feel like establishing a federal bank was constitutional?

even if it wasn't written in the Constitution, it was still required and appropriate

it didn't matter what the Constitution said, Congress can do whatever it wants to do

that power was given to government in Article 2

that power was given to government in Article 3

Answer 1

Alexander Hamilton believed that establishing a federal bank was constitutional primarily because he subscribed to a loose interpretation of the Constitution. He argued that even if a federal bank was not explicitly mentioned in the Constitution, it was still permissible under the Necessary and Proper Clause (also known as the Elastic Clause) found in Article I, Section 8. This clause allows Congress to make laws that are necessary and appropriate for carrying out its enumerated powers.

Hamilton contended that the federal bank was essential for managing the nation’s finances, including handling government revenue, regulating currency, and providing credit. Therefore, he believed it fell within Congress's powers as a means to achieve their constitutional objectives.

So the most accurate response to why Hamilton felt establishing a federal bank was constitutional would be: **"even if it wasn't written in the Constitution, it was still required and appropriate."**