danielpalos
Diamond Member
- Banned
- #81
It was found to be necessary and proper.But what was the Constitutional authorization for the Bank?Was Hamilton's plan for a Bank Of America created under the necessary and proper clause?
You mean Bank of the United States? The Bank of America was crated in 1783, and was the 'unofficial' bank for many years; the French in particularity would only deposit their aid and do business with it early on. It never failed and in fact paid dividends for many decades after.Morris deliberately limited how many shares a stockholder could own, so it couldn't be dominated by a cartel, hence its longevity and soundness, while the Bank of the U.S. was rife with corruption and speculation fro the start, both of them. Hamilton was a low life sleaze bag, and small wonder he was responsible for the first rackets involving war debts and freinds with the first big swindler of our Treasury, William Duer.