Why did Jefferson oppose Hamilton's plan for creating a national bank? Select TWO answers.

Question

Jefferson argued that Congress did not have the constitutional authority to establish a national bank.
Jefferson argued that Congress did not have the constitutional authority to establish a national bank.

Jefferson believed that Americans would protest if a national bank was established.
Jefferson believed that Americans would protest if a national bank was established.

Jefferson felt a national bank was necessary for the government to collect taxes and pay its bills.
Jefferson felt a national bank was necessary for the government to collect taxes and pay its bills.

Jefferson believed that a national bank would give the federal government too much power.

Answer 1

Jefferson opposed Hamilton's plan for creating a national bank for the following two reasons:

1. Jefferson argued that Congress did not have the constitutional authority to establish a national bank. He believed that the Constitution did not grant Congress the power to create such an institution, which he viewed as an overreach of federal authority.

2. Jefferson believed that a national bank would give the federal government too much power. He was concerned that a national bank would enable the federal government to exert excessive influence over the economy and could lead to the concentration of power in the hands of the federal government, undermining states' rights.

These points reflect Jefferson's strict interpretation of the Constitution and his emphasis on limited federal power.