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According to Thomas Jefferson, what would be the long-term cons…

  • Question 3b of 10 - Jefferson and Hamilton

  • Maximum Attempts: 1
  • Question Type: Multiple Choice
  • Maximum Score: 1
  • Question: According to Thomas Jefferson, what would be the long-term consequence of chartering a national bank?
  • Answers:
  1. It would establish the precedent that Congress could charter institutions to do its business for it, thus leading to a government where private organizations replaced elected officials.
  2. It would increase the national debt and make it impossible for the United States to pay its overseas creditors.
  3. It would establish the precedent that Congress could do anything it wanted for the good of the nation, thus destroying the entire system of delegated and reserved powers.
  4. It would not be convenient but instead would force national finance decisions to be transmitted through both the Congress and the offices of the national bank.

The correct answer is: It would establish the precedent that Congress could do anything it wanted for the good of the nation, thus destroying the entire system of delegated and reserved powers.

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