What Were the Pros and Cons of the Creation of a National

question 84

Essay

What were the pros and cons of the creation of a National Bank? What political and constitutional issues were involved in this piece of legislation?

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Definitions:

Drawee

The party, typically a bank, on whom a check or draft is drawn and is responsible for paying the amount specified.

Checking Account

A bank account that allows for the deposit and withdrawal of funds, typically using checks, debit cards, and electronic transfers, intended for daily transactions.

Cashier's Check

A check issued by a bank or financial institution, guaranteed by the bank itself, used for making large payments where the payee requires assurance of payment.

Certified Check

A certified check is a type of check for which the issuing bank guarantees the availability of funds by verifying that enough money exists in the check writer's account to cover the check.