Opinions as to the constitutionality of the National Bank

NATBSM.gif (16409 bytes) Click for larger image. Bank of the U. S.; Bingham, James R. (1917-); 1944

Jefferson's Opinion - Letter to President Washington, February 15, 1791. Provides excellent summary of the powers of Congress. "To take a single step beyond the boundaries thus specially drawn around the powers of Congress, is to take possession of a boundless field of power, no longer susceptible of any definition." - Jefferson

Alexander Hamilton's Opinion as to the constitutionality of the Bank of the U.S. - February 23, 1791. "...this general principle is inherent in the very definition of government, and essential to every step of the progress to be made by that of the United States, ..." - Hamilton

Why The United States Bank Was Closed - President Andrew Jackson, July 10,1832. Jackson's statements express his strong opposition, in light of the events surrounding the first National Bank.

Also see A Banker's Thoughts on Taxation