USA HISTORY

Detailed explanation-1: -Alexander Hamilton conceived of the First Bank of the United States as a way to standardize American currency and cope with national Revolutionary War debt. The Bank still stands today on Independence National Park in Philadelphia.

Detailed explanation-2: -One of the most important of Alexander Hamilton’s many contributions to the emerging American economy was his successful advocacy for the creation of a national bank. But the Bank of the United States, like many of Hamilton’s other projects, would generate controversy.

Detailed explanation-3: -One of those was creating a national bank. In December 1790, Hamilton submitted a report to Congress in which he outlined his proposal. Hamilton used the charter of the Bank of England as the basis for his plan.