MAKING OF A NEW NATION 1776 1800
THOMAS JEFFERSON
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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States made their own financial decisions
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Federal power grew and conditions that would support economic growth were improved
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Private business was overwhelmed with regulation
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Tariffs were raised on imports
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Detailed explanation-1: -The court decided that the Federal Government had the right and power to set up a Federal bank and that states did not have the power to tax the Federal Government. Marshall ruled in favor of the Federal Government and concluded, “the power to tax involves the power to destroy."
Detailed explanation-2: -James W. McCulloch, the cashier of the Baltimore branch of the bank, refused to pay the tax. The state appeals court held that the Second Bank was unconstitutional because the Constitution did not provide a textual commitment for the federal government to charter a bank.
Detailed explanation-3: -Which of the following is true about the case of McCulloch v. Maryland and the conflict between the state and federal government? The state sued the national government based on the claims that the national government had overstepped its bounds by creating the bank and the states could tax it.