On the Constitutionality of a National Bank


Book Description

In 1791, The First Bank of the United States was a financial innovation proposed and supported by Alexander Hamilton, the first Secretary of the Treasury. Establishment of the bank was part of a three-part expansion of federal fiscal and monetary power, along with a federal mint and excise taxes. Hamilton believed that a national bank was necessary to stabilize and improve the nation's credit, and to improve financial order, clarity, and precedence of the United States government under the newly enacted Constitution. Alexander Hamilton (1755-1804) was a founding father of the United States, one of the most influential interpreters and promoters of the Constitution, the founder of the American financial system, and the founder of the Federalist Party. As the first Secretary of the Treasury, Hamilton was the primary author of the economic policies for George Washington’s administration. Hamilton took the lead in the funding of the states’ debts by the federal government, the establishment of a national bank, and forming friendly trade relations with Britain. He led the Federalist Party, created largely in support of his views; he was opposed by the Democratic Republican Party, led by Thomas Jefferson and James Madison, which despised Britain and feared that Hamilton’s policies of a strong central government would weaken the American commitment to Republicanism.




Reconstructing the National Bank Controversy


Book Description

The Bank of the United States sparked several rounds of intense debate over the meaning of the Constitution’s Necessary and Proper Clause, which authorizes the federal government to make laws that are “necessary” for exercising its other powers. Our standard account of the national bank controversy, however, is incomplete. The controversy was much more dynamic than a two-sided debate over a single constitutional provision and was shaped as much by politics as by law. With Reconstructing the National Bank Controversy, Eric Lomazoff offers a far more robust account of the constitutional politics of national banking between 1791 and 1832. During that time, three forces—changes within the Bank itself, growing tension over federal power within the Republican coalition, and the endurance of monetary turmoil beyond the War of 1812 —drove the development of our first major debate over the scope of federal power at least as much as the formal dimensions of the Constitution or the absence of a shared legal definition for the word “necessary.” These three forces—sometimes alone, sometimes in combination—repeatedly reshaped the terms on which the Bank’s constitutionality was contested. Lomazoff documents how these three dimensions of the polity changed over time and traces the manner in which they periodically led federal officials to adjust their claims about the Bank’s constitutionality. This includes the emergence of the Coinage Clause—which gives Congress power to “coin money, regulate the value thereof”—as a novel justification for the institution. He concludes the book by explaining why a more robust account of the national bank controversy can help us understand the constitutional basis for modern American monetary politics.




An Introduction to Constitutional Law


Book Description

An Introduction to Constitutional Law teaches the narrative of constitutional law as it has developed historically and provides the essential background to understand how this foundational body of law has come to be what it is today. This multimedia experience combines a book and video series to engage students more directly in the study of constitutional law. All students—even those unfamiliar with American history—will garner a firm understanding of how constitutional law has evolved. An eleven-hour online video library brings the Supreme Court’s most important decisions to life. Videos are enriched by photographs, maps, and audio from the Supreme Court. The book and videos are accessible for all levels: law school, college, high school, home school, and independent study. Students can read and watch these materials before class to prepare for lectures or study after class to fill in any gaps in their notes. And, come exam time, students can binge-watch the entire canon of constitutional law in about twelve hours.







Hamilton and the Law


Book Description

Since its Broadway debut, Hamilton: An American Musical has infused itself into the American experience: who shapes it, who owns it, who can rap it best. Lawyers and legal scholars, recognizing the way the musical speaks to some of our most complicated constitutional issues, have embraced Alexander Hamilton as the trendiest historical face in American civics. Hamilton and the Law offers a revealing look into the legal community's response to the musical, which continues to resonate in a country still deeply divided about the reach of the law. A star-powered cast of legal minds—from two former U.S. solicitors general to leading commentators on culture and society—contribute brief and engaging magazine-style articles to this lively book. Intellectual property scholars share their thoughts on Hamilton's inventive use of other sources, while family law scholars explore domestic violence. Critical race experts consider how Hamilton furthers our understanding of law and race, while authorities on the Second Amendment discuss the language of the Constitution's most contested passage. Legal scholars moonlighting as musicians discuss how the musical lifts history and law out of dusty archives and onto the public stage. This collection of minds, inspired by the phenomenon of the musical and the Constitutional Convention of 1787, urges us to heed Lin-Manuel Miranda and the Founding Fathers and to create something new, daring, and different.




Bankers, Bureaucrats, and Central Bank Politics


Book Description

Adolph illustrates the policy differences between central banks run by former bankers relative to those run by bureaucrats.




The Federalist Papers


Book Description

Classic Books Library presents this brand new edition of “The Federalist Papers”, a collection of separate essays and articles compiled in 1788 by Alexander Hamilton. Following the United States Declaration of Independence in 1776, the governing doctrines and policies of the States lacked cohesion. “The Federalist”, as it was previously known, was constructed by American statesman Alexander Hamilton, and was intended to catalyse the ratification of the United States Constitution. Hamilton recruited fellow statesmen James Madison Jr., and John Jay to write papers for the compendium, and the three are known as some of the Founding Fathers of the United States. Alexander Hamilton (c. 1755–1804) was an American lawyer, journalist and highly influential government official. He also served as a Senior Officer in the Army between 1799-1800 and founded the Federalist Party, the system that governed the nation’s finances. His contributions to the Constitution and leadership made a significant and lasting impact on the early development of the nation of the United States.




Keeping Faith with the Constitution


Book Description

Chief Justice John Marshall argued that a constitution "requires that only its great outlines should be marked [and] its important objects designated." Ours is "intended to endure for ages to come, and consequently, to be adapted to the various crises of human affairs." In recent years, Marshall's great truths have been challenged by proponents of originalism and strict construction. Such legal thinkers as Supreme Court Justice Antonin Scalia argue that the Constitution must be construed and applied as it was when the Framers wrote it. In Keeping Faith with the Constitution, three legal authorities make the case for Marshall's vision. They describe their approach as "constitutional fidelity"--not to how the Framers would have applied the Constitution, but to the text and principles of the Constitution itself. The original understanding of the text is one source of interpretation, but not the only one; to preserve the meaning and authority of the document, to keep it vital, applications of the Constitution must be shaped by precedent, historical experience, practical consequence, and societal change. The authors range across the history of constitutional interpretation to show how this approach has been the source of our greatest advances, from Brown v. Board of Education to the New Deal, from the Miranda decision to the expansion of women's rights. They delve into the complexities of voting rights, the malapportionment of legislative districts, speech freedoms, civil liberties and the War on Terror, and the evolution of checks and balances. The Constitution's framers could never have imagined DNA, global warming, or even women's equality. Yet these and many more realities shape our lives and outlook. Our Constitution will remain vital into our changing future, the authors write, if judges remain true to this rich tradition of adaptation and fidelity.




On the constitutionality of a national bank


Book Description

Alexander Hamilton was an American revolutionary, statesman, and Founding Father of the United States. In this report of 1791, he advocated a national bank called the Bank of the United States, modeled after the Bank of England. Hamilton believed that a national bank was required to stabilize and improve the nation's credit and to improve the financial order, clarity, and precedence of the United States government under the newly legislated Constitution.




Congressional Record


Book Description