Did Anti-Federalists want a central bank?
At the founding of the nation, Federalists wanted a strong, central bank. Anti-Federalists did not. Anti- Federalists believed that a strong, central bank would only loan to the rich and powerful.
The Anti-Federalists's opposition to ratifying the Constitution was a powerful force in the origin of the Bill of Rights to protect Americans' civil liberties. The Anti-Federalists were chiefly concerned with too much power invested in the national government at the expense of states.
Not everyone agreed with Hamilton's plan. 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.
Many Anti-Federalists preferred a weak central government because they equated a strong government with British tyranny. Others wanted to encourage democracy and feared a strong government that would be dominated by the wealthy. They felt that the states were giving up too much power to the new federal government.
One notable opponent was President Andrew Jackson, who, in 1829, when the charter still had seven years to run, made clear his opposition to the Bank and to the renewal of its charter.
The Federalists contended that a stronger central government would provide a solid base from which New York could grow and prosper. The anti-Federalists clamored for a bill of rights and fought to preserve the autonomy of the state against federal encroachments.
The Federalists believed in the power being concentrated at the hands of the wealthy elite in a central government, while the Anti-Federalists believed in power being concentrated at a state level, with more accessibility for all. The outcome of the debate was the Constitution.
The Bank would be able to lend the government money and safely hold its deposits, give Americans a uniform currency, and promote business and industry by extending credit. Together with Hamilton's other financial programs, it would help place the United States on an equal financial footing with the nations of Europe.
1791-1811: First Attempt at Central Banking
At the urging of then Treasury Secretary Alexander Hamilton, Congress established the First Bank of the United States, headquartered in Philadelphia, in 1791. It was the largest corporation in the country and was dominated by big banking and money interests.
Anti-Federalists such as Thomas Jefferson feared that a concentration of central authority might lead to a loss of individual and states rights. They resented Federalist monetary policies, which they believed gave advantages to the upper class.
Did the Anti-Federalists want a bill of rights?
Antifederalists argued that a bill of rights was necessary because, the supremacy clause in combination with the necessary and proper and general welfare clauses would allow implied powers that could endanger rights. Federalists rejected the proposition that a bill of rights was needed.
In the clash in 1788 over ratification of the Constitution by nine or more state conventions, Federalist supporters battled for a strong union and the adoption of the Constitution, and Anti-Federalists fought against the creation of a stronger national government and sought less drastic changes to the Articles of ...
Expert-Verified Answer
The Anti-Federalist be most likely to agree with the most political power should rest with the states. Therefore, option (C) is correct.
The Bank's most powerful enemy was President Andrew Jackson. In 1832 Senator Henry Clay, Jackson's opponent in the Presidential election of that year, proposed rechartering the Bank early.
Secretary of State Thomas Jefferson expressed his opposition to the Bank. Attorney General Edmund Randolph also pronounced the measure to be unconstitutional. Washington passed the arguments on to Secretary of the Treasury Alexander Hamilton, asking him for his opinion.
The Bank War was a political struggle that developed over the issue of rechartering the Second Bank of the United States (B.U.S.) during the presidency of Andrew Jackson (1829–1837). The affair resulted in the shutdown of the Bank and its replacement by state banks.
We now know that the Federalists prevailed, and the U.S. Constitution was ratified in 1788, and went into effect in 1789. Read about their arguments below. Anti-Federalists argued that the Constitution gave too much power to the federal government, while taking too much power away from state and local governments.
The Anti-Federalists feared that the new Constitution gave the national government too much power. And that this new government—led by a new group of distant, out-of-touch political elites—would: Seize all political power. Swallow up the states—the governments that were closest to the people themselves.
Final answer: The Anti-Federalists were not supportive of a specific foreign nation. They were a group within the United States opposing a strong central government and advocating for states' rights.
Anti-Federalists believed that the new Constitution was designed such that the new government would have too much power. They imagined that the proposed Congress was too capable of assigning new powers to itself, and they thought the President was too close to a monarch in terms of power.
Did Anti-Federalists believe in federalism?
Anti-Federalism was a late-18th-century political movement that opposed the creation of a stronger U.S. federal government and which later opposed the ratification of the 1787 Constitution. The previous constitution, called the Articles of Confederation and Perpetual Union, gave state governments more authority.
The Anti-Federalists mobilized against the Constitution in state legislatures across the country. Anti-Federalists in Massachusetts, Virginia and New York, three crucial states, made ratification of the Constitution contingent on a Bill of Rights.
Some of the main responsibilities central banks have are: Defining monetary policy – central banks set macroeconomic objectives such as to ensure price stability and economic growth. To do this, financial authorities have tools like setting official interest rates, which have an impact on the cost of money.
Several founding fathers bitterly opposed the Bank. Thomas Jefferson saw it as an engine for speculation, financial manipulation, and corruption.
The Federalists wanted a stronger central government for the US because they noticed how poorly the government under the Articles of the Confederation had worked. The Federalists were convinced that a stronger central government would work much better - and they were indeed correct.
