Hamilton knew more about the constitution than any man. He understood that a National Bank provided the means of carrying out specified powers. It would assist the regulation of the value of money through Market manipulation. And we are speaking of the value of foreign money as well as it was subject to fluctuation.
It would greatly improve the funding of distant military projects and make them more efficient and less costly. It helps fund the debt inevitable with war. One of the reasons the Democrats reauthorized the National Bank was the inability to fund the War of 1812.
It was a critical means of tying the wealthy classes to the Union and help avoid the civil wars incident upon Democracies. Without that unifying force the Union would fly apart from the centrifugal forces held at bay, generated by Class Warfare.
Hamilton’s system went a long way to the goal of the Constitution to “form a more perfect union.” That was the result of his genius, perhaps the greatest from our hemisphere.
I prefer to respond to threads with one or two brief points/questions so that my response can be brief. Who has time for pages and pages of complicated analysis which almost defies you to properly respond to.
I don’t see how he would know more. Note that Hamilton had a poor attendance record at the Constitutional Convention imo.
In fact, James Madison, Hamilton’s foe, logged the most complete record of the ConCon debates imo.
"One of the reasons the Democrats reauthorized the National Bank was the inability to fund the War of 1812."
The temporary national bank signed into law by Pres. Madison was arguably a martial law bank. If the states want a peacetime federal national bank then there’s nothing from stopping them from appropriately amending the Constitution.
"In every event, I would rather construe so narrowly as to oblige the nation to amend, and thus declare what powers they would agree to yield, than too broadly, and indeed, so broadly as to enable the executive and the Senate to do things which the Constitution forbids.” —Thomas Jefferson: The Anas, 1793.
Regarding centuries old state versus constitutionally limited federal power power struggles concerning the “necessary and proper” clause (1.8.18), consider this insight.
"It is easier to get forgiveness than it is to receive permission." —Rear Admiral Grace Murray Hopper, U.S. Navy's Chips Ahoy magazine (July 1986)