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chartered in 1791; it lasted until 1811, after which a successor bank was chartered. Hamilton believed the United States should pursue economic growth through diversified shipping, manufacturing, and banking.

Hamilton's political rival, Thomas Jefferson, based his philosophy on protecting the common man from political and economic tyranny. He particularly praised small farmers as "the most valuable citizens." In 1801, Jefferson became president (1801-1809) and turned to promoting a more decentralized, agrarian democracy.

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