In 4-5 sentences why did Jefferson oppose hamiltons plan for creating a national bank

Answer 1

Thomas Jefferson opposed Hamilton's plan for creating a national bank because he believed it was unconstitutional. He argued that the power to establish a bank was not explicitly granted to Congress in the Constitution. Jefferson also believed that the bank would disproportionately benefit the wealthy and elite, and would lead to the consolidation of power in the hands of a few. He favored a strict interpretation of the Constitution and believed that states should have more control over their own finances, rather than a central bank.