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To: Jacquerie
It would be impressive, if there were any truth to it.

Hamilton's primary effort was to establish a bank of the United States. He temporarily succeeded in 1791.

This national bank was a disaster for the general public, which was everyone in all of the United States.

By its end in 1796, excessive printing and therefore money creation by the Hamilton bank caused an inflation rate of 72 percent .

It became so unpopular that its twenty year charter was not renewed by Congress, which puts the lie to the author's assumption.

Hamilton's bank was fought by many in the government who knew that despite prosperity for a few, allowing him to continue would result in limiting public liberty with debt.

Jefferson was a prime opponent. Eventually it was permanently de-funded by President Andrew Jackson,

73 posted on 05/29/2012 8:24:46 AM PDT by PeaRidge
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To: PeaRidge

Madison, who like most southerners who opposed the bank, started the Second Bank during his term, a point you omitted. He did it to stabilize the currency. So, even those against the creation of a central bank eventually saw some good in it.


75 posted on 05/29/2012 9:56:51 AM PDT by Pharmboy (Democrats lie because they must.)
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To: PeaRidge

You blow smoke very well.


91 posted on 05/29/2012 6:03:57 PM PDT by Jacquerie (No court will save us from ourselves)
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