Alexander Hamilton, as Secretary of Treasury, put forth a monumental report to Congress calling for a national bank. He wanted it to be run by private citizens, and not the government. The bank had the power to issue paper money – not the federal government. Hamilton opposed the government running the printing presses to produce money. He wanted it to be separate, entirely. A quote from his report:
The wisdom of the government will be shown in never trusting itself with the use of so seducing and dangerous and expedient.
