George Washington: A Life from Beginning to End (Biographies of US Presidents)

by Henry Freeman

The interests of North and South almost immediately rose to conflict between Hamilton and Jefferson over the establishment of a national bank. Hamilton was determined to see that the United States was established on a solid financial foundation. Washington supported Hamilton in this aim and agreed that the national debt should be funded and state debts incurred during the war should be assumed by the federal government, but the hostility between Hamilton and Jefferson was bitter and acrimonious. They represented different hopes for the future of America. Jefferson cherished the agricultural heritage of the country; Hamilton looked to manufacturing and industry to build the nation. Jefferson believed in the judgement of the people and the sovereignty of the states; Hamilton was suspicious of the majority, and believed that only a strong central government could effectively wield power. Hamilton’s zeal for a national bank stemmed from his belief that financial security solidified public and international trust. Their different views would, in the end, lead to the development of political factions which would represent partisan views and create political parties. This