Jefferson argued the National Bank was?

• A. Constitutional and essential
• B. Unconstitutional and favored manufacturers at the expense of agriculture
• C. The only way to fund education
• D. Irrelevant to national policy

Answer: (B)

Jefferson’s argument centers on how the government should use its power and how the economy should be shaped. He favored a strict reading of the Constitution, believing the federal government had no explicit authority to create a national bank. Because of this, he viewed the Bank as unconstitutional and an overreach of federal power. Beyond constitutional doubts, he argued the Bank would concentrate financial power in the hands of a national elite and urban interests, which would primarily benefit manufacturers and merchants rather than farmers. That tilt toward urban, industrial growth upset the agrarian vision Jefferson valued, so he saw the Bank as helping manufacturers at the expense of agriculture. In short, he rejected the Bank on constitutional grounds and because of its perceived bias toward certain economic groups.