Question

What would be the long-term consequence of chartering a national bank, according to Thomas Jefferson?
Responses

It would not be convenient but instead would force national finance decisions to be transmitted through both the Congress and the offices of the national bank.

It would not be convenient but instead would force national finance decisions to be transmitted through both the Congress and the offices of the national bank.

It would increase the national debt and make it impossible for the United States to pay its overseas creditors.

It would increase the national debt and make it impossible for the United States to pay its overseas creditors.

It would establish the precedent that Congress could charter institutions to do its business for it, thus leading to a government where private organizations replaced elected officials.

It would establish the precedent that Congress could charter institutions to do its business for it, thus leading to a government where private organizations replaced elected officials.

It would establish the precedent that Congress could do anything it wanted for the good of the nation, thus destroying the entire system of delegated and reserved powers

Answer 1

It would establish the precedent that Congress could do anything it wanted for the good of the nation, thus destroying the entire system of delegated and reserved powers.

Jefferson argued a bank would set a dangerous precedent for broad, implied congressional power and undermine the Constitution’s limits.