What was the Fuss over the National Bank?
whoooo26505 at yahoo.com
Tue Jun 27 17:30:38 PDT 2006
Sorry, I'm away on vacation. The time period I was referencing was around 1760 through 1800. The things I said about the consignment system were from around 1760 or so and the things I referenced about Hamilton, the bank of new york, the first selling of stock, the financial plan, the bank and the "aging patriarch" who fell victim to hamilton and his english-friendly capitalist friends would have been during the Washington administration. I thought I had made it clear that I was speaking through the eyes of Virginia's elite -- I most certainly don't hold these views of Hamilton. (I think the Virginians were "crazy" quite frankly). The question Bobby had asked was what was the big deal about a bank. All I did was tie the bank and banking in general to a political world view that became hegemonic in America in 1800. That view, as I see it, was not a federalism issue. It was something much larger and more substantial.
I realize the term "colonial america" is unfortunate. I apologize about that. But you know, when referring to a cultural pathology it is somewhat hard to think of colonial america as being legalistic. I understand that it ends when it does, but the political psychology about banking and who controlled the strings of the new power was not something that ended when states were formed. And so I was thinking in psychological rather than legal terms.
Once again, sorry for the confusion.
Paul Finkelman <paul-finkelman at utulsa.edu> wrote:
Sean Wilson keeps talking about banking in the "colonies" but isn't the first bank chartered after 1776? Sean writes: " It is no coincidence that the only banks that existed in early colonial america were in New York, Boston and Philadelphia. (The first bank, the Bank of New York, was organized by Hamilton)." My recollection is that the Bank of NewYork was chartered in 1784 -- there are no colonies then.
Dr. Sean Wilson, Esq.
Penn State University
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