Of all things, the most controversial issue of President George Washington’s first term swirled around a bank. While Alexander Hamilton championed the establishment of the First Bank of the United States, Thomas Jefferson believed it would endanger liberty, ignite a constitutional crisis, and set a dangerous precedent. In this episode, I explain why.
In my book, Compact of the Republic, I explained how the First Bank of the United States undermined the Jeffersonian vision for a decentralized republic: https://amzn.to/2xUcvF8
Best books on this topic:
-Gordon Wood, Empire of Liberty: https://amzn.to/2zTDemw
-Forrest McDonald, The Presidency of George Washington: https://amzn.to/2Pdx8mg
-Douglass Southall Freeman, Washington: https://amzn.to/2Oc80A0
-Murray Rothbard, A History of Money and Banking in the United States: https://amzn.to/2pNrvjx