Research On The Debate Between Jefferson And Hamilton On The First Bank Of The United States

The debate between Hamilton and Jefferson about the first bank of the United States had important influence in the early history of the United States.The state rights activists represented by Jefferson held republican ideas.They opposed the establishment of a strong federal government politically and advocated the establishment of an ideal country for agriculture economically.They proposed the principle of "strict interpretation" of the constitution.The nationalists represented by Hamilton held the federalist idea,advocated the establishment of a strong federal government politically,advocated the economic thought of building a country by business,and advocated the"broad interpretation" of the constitution.The two sides had a heated debate over the bank of the United States act,which had a profound impact on the political,economic and development path of the United States.This article includes the following three parts.In the first part,the political and economic background of the bank bill proposed by Hamilton is elaborated with the clue of time.This section begins with the economic situation in colonial times.This paper analyzes and discusses the influence of mercantilist policies on colonial economy,and sorts out the types,scope and influence of currency in colonial period.Secondly,the political background of the bank act was analyzed,and the political power status and fiscal revenue and expenditure situation of the former government from the establishment of the colony to the bank act were sorted out with the clue of time.Finally,it summarizes the development of banking industry in Europe and North America before 1791.This paper analyzes the development of the banking industry in Europe and the United States,and introduces the representative Banks,which constitute the practical basis of the Hamilton bank act.The second part elaborates the process of the debate between Jefferson,Randolph and Hamilton on the constitutionality of the bank act.Firstly,the specific contents of Hamilton’s bank act were summarized through literature analysis.Secondly,the debate process of the bank act between the two sides was elaborated through text analysis.This paper summarizes the views of Jefferson and Randolph,analyzes and evaluates their views,and probes into the theoretical origin of their views.Finally,through text analysis,this paper summarizes Hamilton’s views,summarizes and classifies them,and analyzes the advantages and disadvantages of his arguments and theoretical sources.The third part delves into the essence of the debate between Jefferson and Hamilton on the bank act and its multiple influences on American society.First of all,this paper makes an in-depth analysis of the essence of the debate from the outside to the inside from different dimensions,elaborates the ideological and theoretical sources of the views of both sides,explains the root causes of the differences,and obtains a deeper understanding of the reasons for the debate,highlighting the research value of this paper.Then,from three aspects of politics,economy and development path,this paper discusses the impact of debate on American society,deepens the understanding of the significance of debate and raises the awareness of the article.