AlexanderHamiltonandtheFirstBankLesleyMaceSr.EconomicandFinancialEduca5onSpecialistFederalReserveBankofAtlanta-JacksonvilleBranchLesley.mace@atl.frb.org

MoneyMen

FirstBankoftheUnitedStates

HowmanybankswerethereintheUnitedStatesin1791?

FirstBankLesson•  HowmanybanksdoyouthinktherewereintheUSin1791?

DiscussionQuestions• Howdidthecon,nentaldollarsbecomeprac,callyworthless?• Whataresomefunc,onsofamoderncentralbank?• Whatisalenderoflastresort?•  Inthestreetscene,whydidthemerchantsaythattheUSneedsana,onalbank?•  Inthestreetscene,whydidthefarmersaythatana,onalbankwasabadidea?

FirstBankinBusiness

HamiltonandtheNa:onalBankReading

•  Whatfunc:onsdidthe1stBankperformfortheUSgovernment?Individuals?

•  Howdiditaffecttheeconomy?

•  WhydidtheFirstBankgooutofbusiness?

HamiltonversusJefferson• WhydidJeffersonopposetheFirstBank?

• WhatwasHamilton’sargumentfortheFirstBank?

ComparingCentralBanks

CabinetBattle#1

Questions??