<Li> That the Secretary of the Treasury would be free to remove government deposits, inspect the books, and require statements regarding the bank's condition as frequently as once a week . </Li> <P> To ensure that the government could meet both the current and future demands of its governmental accounts, an additional source of funding was required, "for interest payments on the assumed state debts would begin to fall due at the end of 1791...those payments would require $788,333 annually, and...an additional $38,291 was needed to cover deficiencies in the funds that had been appropriated for existing commitments ." To achieve this, Hamilton repeated a suggestion he had made nearly a year before--increase the duty on imported spirits, plus raise the excise tax on domestically distilled whiskey and other liquors . Local opposition to the tax led to the Whiskey Rebellion . </P> <P> Hamilton's bank proposal faced widespread resistance from opponents of increased federal power . Secretary of State Thomas Jefferson and James Madison led the opposition, which claimed that the bank was unconstitutional, and that it benefited merchants and investors at the expense of the majority of the population . </P> <P> Like most of the Southern members of Congress, Jefferson and Madison also opposed a second of the three proposals of Hamilton: establishing an official government Mint . They believed this centralization of power away from local banks was dangerous to a sound monetary system and was mostly to the benefit of business interests in the commercial north, not southern agricultural interests, arguing that the right to own property would be infringed by these proposals . Furthermore, they contended that the creation of such a bank violated the Constitution, which specifically stated that congress was to regulate weights and measures and issue coined money (rather than mint and bills of credit). </P>

Who opposed the bank of the united states
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