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feb 25, 1791 - 1st Bank of the United Sates

Description:

With a limited amount of specie, and a need for regulating state banks, Hamilton proposed the first national bank. This both established the precedent for having a federal government handle the issuing of paper currency and was a blow against strict constructionism as the creation of a bank was not expressly permitted in the Constitution.

Added to timeline:

10 months ago
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120
The Role and Power of Government

Date:

feb 25, 1791
Now
~ 227 years ago
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