world bank
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Hamilton's Plan
1. Debt Assumptionwhy? PASSED
2. Whiskey Taxwhy on that? Notice (intentional) resultand ability of US government to handle itPASSED
3. Protective Tariff(high on certain products imported that we want to start to make/compete withREJECTED
4. National BankPASSED
BANK OF THE UNITED STATES
[Recommended by Secretary of Treasury Hamilton, 1791; chartered 1791-1811]
Ownership: 4/5 shares to public (to then be privately owned)
1/5 shares bought by the U.S government
Who will buy?: Mostly eastern commercial types, as the National Band branches it will be located in major (eastern, almost entirely) cities.
Functions of Bank from U...