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30 January, 21:44

2. After the American Revolution why was there a need to establish a stable banking system?

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  1. 30 January, 22:41
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    Federalists wanted a

    centralized banking

    system and Alexander

    Hamilton, as Secretary of

    the Treasury, proposed a

    national bank in 1789.

    • Antifederalists, like

    Thomas Jefferson,

    opposed this plan.

    - They favored a

    decentralized banking

    system in which states

    established and

    regulated banks within

    their borders.
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