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Why did the establishment of the United States' first national bank in 1781 fail? A. The states did not see the importance of a national bank. B. New York objected to the power such a national financial institution would exercise on state banks. C. Congress did not know how to raise the capital for the bank. D. Rhode Island blocked a unanimous vote for the 5% import tax intended to fund the bank.
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A. The states did not see the importance of a national bank.
Expert answered|jeifunk|Points 6962|
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Asked 9/29/2012 8:49:13 AM
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Updated 3/26/2018 4:29:17 AM
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The Stamp Act was an Act of the Parliament of Great Britain that imposed a direct tax on the colonies of British America and required that many printed materials in the colonies be produced on stamped paper produced in London, carrying an embossed revenue stamp.
Added 3/26/2018 4:29:17 AM
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