Lesson to Accompany the First Bank of the United States: A Chapter in the History of Central Banking
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- Lesson to Accompany the First Bank of the United States: A Chapter in the History of Central Banking
- Reserve Bank
In this lesson, through a reader's theater, students learn about the economics of the early United States and the debate between Alexander Hamilton and Thomas Jefferson over the founding of the first Bank of the United States. They examine quotations from Hamilton's and Jefferson's letters to President Washington and the arguments each man is trying to make about the need for and constitutionality of the bill to incorporate the bank. They read the booklet "The First Bank of the United States" to learn about the founding of the first Bank of the United States, the financial crisis associated with the bank’s stock subscription, the bank’s operations, and the way it influenced the early American economy. The students learn to read primary sources by examining letters written in the 1790's about the First Bank and its operations. In the final activity, the students learn about the First Bank’s influence on the availability of credit in the early American economy by examining simple banking scenarios.
|Banks, Banknotes, Central bank, Credit crunch, Financial bubble, Initial public offering (IPO), Money supply, Primary source document|