“That from a conviction (as suggested in his report No. 1155 herewith presented) That a National Bank is an Institution of primary importance to the prosperous administration of the Finances, and would be of the greatest utility in the operations connected with the support of the Public Credit, his attention has been drawn to devising the plan of such an institution, upon a scale, which will intitle it to the confidence, and be likely to render it equal to the exigencies of the Public.”
Alexander Hamilton, Final Version of the Second Report on the Further Provision Necessary for Establishing Public Credit (Report on a National Bank), 13 December 1790
Alexander Hamilton’s ideas expressed in the excerpt are most directly a reaction to the
Need for America to have a balanced and self-reliant economy
Accumulation of public debt after the American Revolution
Desire to purchase Louisiana from France
Enactment of the excise tax
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