Part one of term paper
The Washington administration was the first to bring together in the cabinet of the United States, the Secretary of State Thomas Jefferson and the Secretary of Treasury Alexander Hamilton. Jefferson and Hamilton began to take different views when the government began to address the issue of the old war debts and the worthless paper money ...

Part two of term paper
... this was not allowed by the Constitution. Hamilton opposed the view of Jefferson and stated that the Constitution’s writers could not have predicted the need of a bank for the United States. Hamilton said that the right to create the Bank of the United States was stated in the “elastic” or the “necessary and proper” clause in which the Constitution gave the government the power to pass laws that were necessary for the welfare of the nation. “ This began the argument between th ...