Should We have a National Bank?

During the 1830’s the ghosts of John Winthrop and James Madison became entangled in an intense debate. Each believed that his own ideas had formed the backbone of American society as it emerged in the fourth decade of the nineteenth century. While both believed that their own ideas should be the ideas that all Americans followed, two addresses were given that were worthy of both, Winthrop and Madison to inspect. These addresses being: William Lloyd …

…the people on top of the social pyramid increases with the increase of people below them. Therefore if slavery was abolished some of Winthrop’s power might be infringed upon due to the fact that social mobility would increase. A National Bank discourages social mobility, which is why Winthrop would have disagreed with Jackson’s speech. So in conclusion, John Winthrop would have been against abolition and would have encouraged a National Bank. ------------------------------------------------------------------------ **Bibliography**