Why was the The National Bank created during the start of America in the 1790s? and Bank Vole (Myodes glareolus)

Why was the The National Bank created during the start of America in the 1790s?

What does the national bank do?


bank best answer:

Answer by khaleesi
This only a little bit of info about the National Bank. The rest is too long to copy and paste in the answer, so go to the link. Hope this helped!

As a result of the revolution, the federal government had acquired a huge debt: $ 54 million including interest. The states owed another $ 25 million. Paper money issued under the Continental Congresses and Articles of Confederation was worthless. Foreign credit was unavailable.

The person assigned to the task of resolving these problems was 32-year-old Alexander Hamilton. Born out-of-wedlock in the West Indies in 1757, he was sent to New York at the age of 15 for schooling. One of New York's most influential attorneys, he played a leading role in the Constitutional Convention and wrote 51 of the 85 Federalist Papers, urging support for the new Constitution. As Treasury Secretary, Hamilton designed a financial system that made the United States the best credit risk in the western world.

The paramount problem facing Hamilton was a huge national debt. He proposed that the government assume the entire debt of the federal government and the states. His plan was to retire the old depreciated obligations by borrowing new money at a lower interest rate.

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Bank Vole (Myodes glareolus)


Image by Peter aka anemoneprojectors
Bank Vole (Myodes glareolus). Was out walking with Martin when he spotted it scurrying around, and it let me get very close to get some photos. It didn't seem scared at all. Seen between Stotfold and Arlesey, Bedfordshire, 22 September 2012.

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