Reply To: Primary Documents, The Fed and Central Banking


I would start with the Jefferson/Hamilton debate and move forward. Use Jefferson’s attack on the bank followed by Hamilton’s defense. I would also consult Taylor of Caroline’s Inquiry into the Principles and Policies of the Government of the United States has a very good chapter on banking. You can then address the issue with the rechartering of the Bank (narrowly passed the Senate and good info in the debates there on the bill), the Marshall Court via Mc. v. Maryland, and later Jackson’s veto of the recharter for 2nd BUS. William Gouge wrote an excellent treaty against central banking in 1833. Very Jeffersonian. There was some opposition to the National Banking Acts in the 1860s, but remember, the South was out of the Union at that point so the legislation was passed by a Northern pro-banking majority. As for the FED, see Pujo’s (of LA) opposition along with that of Glass (of VA) and C.A. Lindbergh of MN (considered a socialist but very Jeffersonian in his critique of the FED). Hope that helps.