- published: 10 Dec 2010
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In banking, the term national bank carries several meanings:
In the past, the term "national bank" has been used synonymously with "central bank", but it is no longer used in this sense today. Some central banks may have the words "National Bank" in their name; conversely if a bank is named in this way, it is not automatically considered a central bank. For example, National-Bank AG in Essen, Germany is a privately owned commercial bank, just like National Bank of Canada of Montreal, Canada. On the other side, National Bank of Ethiopia is the central bank of Ethiopia and National Bank of Cambodia is the central bank of Cambodia.
Pashtany Bank is the government-owned bank in based in Kabul, Afghanistan that controls Ariana Afghan as well as the Afghan National Bank.
The Commonwealth Bank of Australia was founded by an Australian Act of Parliament in 1911. Bank Nationalisation was the policy of the Andrew Fisher Labor Government. In a rare move for the time, the bank was to have both savings and general bank business. The bank was also the first bank in Australia to receive a Federal Government guarantee.
Andrew Jackson (March 15, 1767 – June 8, 1845) was the seventh President of the United States (1829–1837). Based in frontier Tennessee, Jackson was a politician and army general who defeated the Creek Indians at the Battle of Horseshoe Bend (1814), and the British at the Battle of New Orleans (1815). A polarizing figure who dominated the Second Party System in the 1820s and 1830s, as president he destroyed the national bank and relocated most Indian tribes from the Southeast to west of the Mississippi River. His enthusiastic followers created the modern Democratic Party. The 1830–1850 period later became known as the era of Jacksonian democracy.
Jackson was nicknamed "Old Hickory" because of his toughness and aggressive personality; he fought in duels, some fatal to his opponents. He was a rich slaveholder, who appealed to the common men of the United States, and fought politically against what he denounced as a closed, undemocratic aristocracy. He expanded the spoils system during his presidency to strengthen his political base.
Alexander Hamilton (January 11, 1755 or 1757 – July 12, 1804) was a Founding Father, soldier, economist, political philosopher, one of America's first constitutional lawyers and the first United States Secretary of the Treasury.
As Secretary of the Treasury, Hamilton was the primary author of the economic policies of the George Washington Administration, especially the funding of the state debts by the Federal government, the establishment of a national bank, a system of tariffs, and friendly trade relations with Britain. He became the leader of the Federalist Party, created largely in support of his views, and was opposed by the Democratic-Republican Party, led by Thomas Jefferson and James Madison.
Hamilton served in the American Revolutionary War. At the start of the war, he organized an artillery company and was chosen as its captain. He later became the senioraide-de-camp and confidant to General George Washington, the American commander-in-chief. He served again under Washington in the army raised to defeat the Whiskey Rebellion, a tax revolt of western farmers in 1794. In 1798, Hamilton called for mobilization against France after the XYZ Affair, and secured an appointment as commander of a new army, which he trained for a war. However, the Quasi-War, although hard-fought at sea, was never officially declared. In the end, President John Adams found a diplomatic solution that avoided war.