Hamilton's National Bank
In this lesson, students participate in two rounds of a role play to help them understand the role of banks in facilitating economic growth through loans. Round 1 is conducted without a bank. After the first round, students read excerpts from Secretary of the Treasury Alexander Hamilton’s 1790 report to Congress in which he proposes a national bank because the United States had few banks at the time. Students then conduct Round 2 of the role play with a bank. After the round, students read excerpts from and summaries of the statute creating a national bank, Thomas Jefferson’s opposition, and Hamilton’s rebuttal.
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See related lesson: Constitutionality of a Central Bank
Concepts covered in this lesson include:
- Banks
- Capital formation
- Capital resources
- Collateral
- Gross domestic product (GDP)
- Loan
- Risk
- Risk-reward relationship
- Savings
- Usury
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