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Essay text:
Secretary of State Thomas Jefferson opposed
the notion, on the grounds that the Constitution did not specifically give
Congress such a power, and that under a limited government, Congress had no
powers other than those explicitly given to it. Hamilton responded by arguing
that Congress had all powers except those specifically denied to it in the
Constitution, and that moreover, the "necessary and proper" clause of Article I
required a broad reading of the designated powers. President Washington
backed Hamilton, and the bank was given a twenty-year charter. The charter
expired in 1811, and the Jeffersonians had not renewed it...
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