Hamilton proposed that the First Bank of the United States be structured as a:
Show answer and explanation
Correct answer: Private corporation with the federal government as a minority stockholder
Hamilton designed the bank as a joint public-private venture to ensure efficiency and private sector support. The government owned 20% of the stock, while private investors owned the remaining 80%, providing a stable source of investment capital.
Keep practicing
More Hamilton's Financial Plan questions
- How did Hamilton plan to generate the revenue necessary to pay interest on the national debt?
- Thomas Jefferson’s primary objection to the National Bank was based on the belief that:
- Which of the following was a primary function of the First Bank of the United States?
- What was Hamilton’s view on the 'public debt' of the United States?
- The Whiskey Rebellion of 1794 was significant because it demonstrated:
- What role did 'speculators' play in the controversy over Hamilton's funding plan?