USA HISTORY

Detailed explanation-1: -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.

Detailed explanation-2: -1791–1811. Alexander Hamilton’s grand experiment in central banking began in 1791 to assist a post-Revolutionary War economy and ended 20 years later.

Detailed explanation-3: -Proposed by Alexander Hamilton, the Bank of the United States was established in 1791 to serve as a repository for federal funds and as the government’s fiscal agent.

Detailed explanation-4: -Some residents of the North, which had trading and manufacturing at its center, believed the nation would benefit from a national bank. Hamilton was persistent, and in early 1791, Congress passed the bill that created the nation’s first central banking system.