Alexander Hamilton's proposed bank of the United States was

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Hamilton's proposed bank of the United States was based on the "necessary and proper," or "elastic," clause in the Constitution. This clause gave Congress the power to make any laws that were necessary and proper for carrying out its other powers and responsibilities. Hamilton argued that a national bank was necessary to facilitate the government's financial transactions and to promote economic growth. Although there were critics of the bank, it was ultimately established in 1791.

Alexander Hamilton's Proposed Bank of the United States Was