"In the room where it happens" — The origins of America’s banking system (opens original article in a new tab)

The Compromise of 1790, involving Alexander Hamilton, Thomas Jefferson, and James Madison, led to the creation of the First Bank of the United States and the establishment of Washington, D.C. as the capital.

• The Compromise of 1790 shaped America's financial system and capital location.
• Hamilton advocated for a centralized bank to manage war debts and stabilize the economy.
• Madison opposed the bank, fearing concentrated financial power and threats to southern states.