Explain Why Thomas Jefferson Was Opposed to the Creation of a Central

question 29

Essay

Explain why Thomas Jefferson was opposed to the creation of a central bank.

---

Definitions:

National Debt

The total amount of money that a country's government has borrowed, by various means, from the private sector and other governments.

Interest Rates

The cost of borrowing money or the return for investing money, typically expressed as a percentage of the principal amount per year.

Primary Reserves

Liquid assets held by financial institutions as a primary means to meet immediate withdrawal demands or regulatory requirements.

Secondary Reserves

Liquid assets that can quickly be converted into cash but are not held as compulsory reserves by a financial institution.