RECONSTRUCTION 1865 1877
RECONSTRUCTIONS EFFECTS ON AFRICAN AMERICANS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It represented more government control and would potentially force the South to pay more debt that has already been taken care of.
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The Bank “leveled the playing field” and took away much of your hard earned money
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Your taxes went up.
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It represented less government control.
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Detailed explanation-1: -The Democratic-Republicans argued that, even if a national bank would be of benefit to the country, nowhere in the Constitution does it specify that the federal government is allowed to be in the banking business.
Detailed explanation-2: -Thus, the Democratic-Republicans opposed Federalist efforts to build a strong, centralized state, and resisted the establishment of a national bank, the build-up of the army and the navy, and passage of the Alien and Sedition Acts.
Detailed explanation-3: -Thomas Jefferson was afraid that a national bank would create a financial monopoly that might undermine state banks and adopt policies that favored financiers and merchants, who tended to be creditors, over plantation owners and family farmers, who tended to be debtors.
Detailed explanation-4: -Jefferson and the Democratic-Republicans were strongly against the idea of a National Bank, arguing that the Constitution did not say anything about making a National Bank. Federal government support itself financially.