test+question+3

Cameron Beckert US Studies Term 1 Test Question 3 A-1 **Make a case for, or against, a national bank, both in the early years of the country and now.** The National Bank is a bank that was used to help the colonists and the government fund for the wars. Instead of have a bunch of little banks around the colonies the government decided to have one big bank were the president and his house and congress men controlled it. Because if we had a bunch of little banks, it would be much easier to have them all go bankrupt, but because it’s one big one there is a whole bunch of money in it. So when people came to get their money out the bank can give it to them. Hamilton was all for the idea of having a National Bank, and I think he is right because if we don’t have one then the people who put their money into the smaller banks sometimes won’t even see that money again. So I think Hamilton was right on when he said he wanted one. But other people such as Thomas Jefferson thought it was a bad idea to have the National Bank, because then the president and his cabinet would have too much power over the money that goes around the United States. Some of the colonists had small companies that the own themselves that help provide for their families. But the government wanted to control their company so they could get some money out of it. But the colonists didn’t want that. So most of the colonists were with Thomas Jefferson when he said he didn’t want one. So the colonies started a National Bank and to my knowledge it worked like they wanted it too. Then Thomas Jefferson went into office and he didn’t like the idea of the National Bank so he got rid of it. So the whole time Thomas Jefferson was in office there was no National Bank. Then when Jefferson’s time went out of being the president, the next president brought the National Bank back. But then the next president didn’t like the idea so he got rid of it. So over the course of 10-15 years or so we had a national bank and then we didn’t have one. Now a days we have instead of a National Bank we have an organization called FDIC, which is kind of like the National Bank in some ways, but its not a bank, it’s more of a collection of money that the government has to it’s disposal to help out people and to pay for the wars and the stuff we need to live. I think having a National Bank is not a horrible idea but I wouldn’t want to do it. Because as a US citizen I would like to know where my money would be and I would rather take a chance with a smaller company going out of business then having my money go into a bank that is ran by the government and has a whole bunch of people in the system. Because I would like to have my money close by and with the people that I trust. But the bank would also have to be successful, because I’m not going to put my money into a shaky bank that I don’t trust. So I’m with those guys who don’t want it.