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The National Bank That Breached the Articles of Confederation

The National Bank That Breached the Articles of Confederation

by Mike Maharrey | Jun 2, 2025 | Articles of Confederation, James Wilson, Robert Morris

Despite having no express authority to do so, Congress created a national bank under the Articles of Confederation by invoking an invented doctrine of “inherent sovereign authority.” The episode reveals that even under a framework built on explicit and limited...
Edmund Randolph vs the National Bank

Edmund Randolph vs the National Bank

by Mike Maharrey | May 2, 2024 | Edmund Randolph, History, Necessary and Proper Clause

After Congress passed a bill to establish the first national bank in early 1791, President George Washington asked Attorney General Edmund Randolph to prepare an opinion on the bill’s constitutionality. Randolph came down firmly against the measure, arguing that the...
Alexander Hamilton’s “Implied Powers” Wrecked the Constitution

Alexander Hamilton’s “Implied Powers” Wrecked the Constitution

by Mike Maharrey | Jun 14, 2021 | Alexander Hamilton, Constitution, Founding Principles, Necessary and Proper Clause

During the ratification debates, supporters of the Constitution insisted that the new general government would only exercise the powers explicitly enumerated in the document. But less than three years after ratification, Alexander Hamilton did a complete 180, suddenly...
Was This the Biggest Political Flip-Flop Ever?

Was This the Biggest Political Flip-Flop Ever?

by Mike Maharrey | Jun 8, 2021 | Alexander Hamilton, Federal Reserve, History

I don’t think anybody is surprised when politicians flip-flop. George H.W. Bush with his “no new taxes” pledge provides a great modern example. But Alexander Hamilton arguably gave us the most damaging, if not the biggest, flip-flop ever when he did a complete 180 on...
Edmund Randolph vs the National Bank

The Constitutionality of a National Bank: Hamilton vs. Jefferson

by Mike Maharrey | Sep 18, 2020 | 10th Amendment, Alexander Hamilton, Enumerated Powers, Thomas Jefferson

The First Bank of the United States was chartered for a period of 20 years by Congress on Feb. 25, 1791. Alexander Hamilton championed the bank, but it wasn’t without its detractors. One of the most vocal opponents of the bank was Thomas Jefferson who argued...
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