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Why Was the Creation of a National Bank Controversial

Question 58

Multiple Choice

Why was the creation of a national bank controversial?


A) A national bank would not have any power to regulate the role of state-chartered banks in issuing paper currency.
B) Madison, Jefferson, and their supporters argued that the Constitution did not say anything about creating one.
C) A national bank would not have any power to transfer monies to other nations.
D) A national bank would set the precedent that future lawmakers must follow the original language of the Constitution word for word.
E) Business loans would no longer be possible under a national bank, leading to economic distress.

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