Hamilton vs. Jefferson
The Central Bank Debate That Shaped America
When it comes to the origins of American finance, no debate was more consequential—or more heated—than the clash between Alexander Hamilton and Thomas Jefferson over the creation of a central bank. Their arguments in the 1790s didn’t just set the course for the nation’s first bank—they established the fault lines that still run through our monetary and political system today.
The foundational arguments between Hamilton and Jefferson set the stage for ongoing discussions about the power and purpose of America’s central banking system—a conversation that is far from settled in 2025.
Hamilton believed a central bank was the engine of national greatness; Jefferson feared it would be the lever of elite power. Their debate remains the blueprint for every argument about central banking in America—a testament to the enduring tension between ambition and caution at the heart of our financial system.