1. American Bank System
... stood at one end of a long chain of credit that stretched to the American frontier. They gave short-term (less than a year) credits to American merchants who then extended them to wholesalers of their imports, and the wholesalers passed them on to both urban and rural retailers - country ... plus interest"( http://financeservices.miningco.com/business/financeservices/gi/dynamic/offsite.htm'site=http://www.jmu.edu/polisci/madison/Twoviews.htm). More than this, what the debt repayment debate actually uncovered was the frothing tension between state and federal power. Hamilton's plan inadve...
- Word Count: 3632
- Approx Pages: 15
- Has Bibliography
- Grade Level: Undergraduate