Hamilton v. Jefferson: The Central Bank Debate [POLICYbrief]

In 1791, two great minds clashed over an issue of constitutional and historical significance. Alexander Hamilton and Thomas Jefferson tried to make the case to President George Washington for and against having a national, central bank. Hamilton saw the central bank as the key to America’s economic future, whereas Jefferson worried about the consolidation of power and thought a central bank was unconstitutional. In this episode of POLICYbrief, two experts--David Cowen, President/CEO of the Museum of American Finance, and Thomas J. DiLorenzo, Professor of Economics at Loyola University--explain and analyze this 200-year-old debate that still has relevance today. As always, the Federalist Society takes no position on particular legal or public policy issues; all expressions of opinion are those of the speaker. ***** Learn more about David Cowen https://www.moaf.org/about/people/cowen_david Alexander Hamilton on Finance, Credit, and Debt https://www.amazon.com/Alexander-Hamilton-Finance-Credit-Debt/dp/0231184565/ref=pd_sbs_14_4/135-6060875-8128350?_encoding=UTF8&pd_rd_i=0231184565&pd_rd_r=98cd0444-e389-4494-bf8d-124d2b9f47df&pd_rd_w=wxdxz&pd_rd_wg=QyiAc&pf_rd_p=bdd201df-734f-454e-883c-73b0d8ccd4c3&pf_rd_r=SYGP8JF3F69EZT00MKBH&psc=1&refRID=SYGP8JF3F69EZT00MKBH Learn more about Thomas J. DiLorenzo: https://www.loyola.edu/sellinger-business/academics/departments/economics/faculty/dilorenzo Hamilton's Curse https://www.amazon.com/Hamiltons-Curse-Jeffersons-Revolution-Americans/dp/0307382850 ***** Related Links: [Founders Online] To George Washington from Thomas Jefferson, 15 February 1791 https://founders.archives.gov/documents/Washington/05-07-02-0207 [PBS] Establishing a National Bank https://www.pbs.org/wgbh/americanexperience/features/establishing-national-bank/ [Federal Reserve History] The First Bank of the United States https://www.federalreservehistory.org/essays/first_bank_of_the_us [Constitution Center] Hamilton’s Treasury Department and a great Constitutional debate https://constitutioncenter.org/blog/hamiltons-treasury-department-and-a-great-constitutional-debate [History] Whose Vision of America Won Out—Hamilton’s or Jefferson’s? https://www.history.com/news/whose-vision-of-america-won-out-hamiltons-or-jeffersons [Mises] The Corrupt Origins of Central Banking https://mises.org/library/corrupt-origins-central-banking [Federal Reserve] America's Central Bank: The History and Structure of the Federal Reserve https://www.federalreserve.gov/newsevents/speech/powell20170328a.htm [Oyez] McCulloch v. Maryland https://www.oyez.org/cases/1789-1850/17us316 [Cato] Money and Banking: A Constitutional Perspective https://www.cato.org/sites/cato.org/files/serials/files/cato-journal/2015/5/cj-v35n2-2.pdf