Why did the Pennsylvania government object to the bank?
Too much power
Fraud
Bankruptcy
Location Dispute
Answer
The Pennsylvania government saw the bank as a threat due to its immense power and influence. They were concerned that the bank could potentially become too powerful and wield undue influence over the state's economy and politics. This concern stemmed from the bank's control over a significant portion of the financial system and its ability to make decisions that could have far-reaching effects on the state's economy.
Keeping Up with the First: Bank of North America Quiz
More Questions
Which founding father was an advocate for the bank?
What happened to the Bank of North America after the Pennsylvania government's objections?
What did Congress charter in 1791 as a response to issues with the bank?
How did Robert Morris contribute to the bank's founding?
What date was the bank's charter approved by the Congress?
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