Why did Alexander Hamilton think a national bank would strengthen the central government?

Question

(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.

Answer 1

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.