From the National Archives, here's a letter by Th omas Jefferson discussing monetary policy. This is an explicit explanation of his views on the economic merits of the question, not simply the constitutional question of whether the federal government can charter a national bank (an argument with which I presume the readership of this blog is familiar). Jefferson is an "elder statesman" when he writes this letter, in November 1813. He hasn't been President for more than four years. Further, the original "Bank of the United States," the one that Hamilton created over Jefferson's strident objections, is no longer in operation. Its charter had expired and gone unrenewed during Madison's first term. BUT ... it was proving difficult to finance the ongoing war without a central bank, and this caused some soul-searching within the Republican-Democratic Party, by now the only national political party left. Hence the discussion. Eventually the party w...