Question

The newly created Bank of the United States was originally a branch of the government under the suggestion of Alexander Hamilton. True False

Answer 1

The Bank of the United States was not a branch of the government, but a privately-owned central bank created under a federal charter. It was indeed proposed by Alexander Hamilton to help establish financial stability in the newly independent country.

Step-by-step explanation:

The statement given is False. The newly created Bank of the United States was not a branch of the government, but it was established and operated under a federal charter as a privately-owned central bank. This bank was indeed suggested by Alexander Hamilton, who was the first Secretary of the Treasury of the United States. He proposed this bank with the aim of resolving the economic problems post-American Revolution and establishing financial order, clarity, and precedence in the newly independent nation.

Learn more about Bank of the United States