What Hamilton got was of course a watered down version of what he wanted precisely because of the Jeffersonian objections. He had argued even during the revolu

What Hamilton got was of course a watered down version of what he wanted precisely because of the Jeffersonian objections. He had argued even during the revolutionary war that there was a need for a Bank Of England equivalent in the States. The Bank of England also didn’t look exactly like a central bank does today but was an explicit instrument of governmental monetary policy. Hamilton and his supporters believed the federal government would fail without a similar institution so it’s just not correct to say that the founders didn’t envision a central bank. It was a contentious issue then like slavery was. If the central bank uses different technologies and processes now that’s to be expected. But even the original bank had as part of its central mission the management of federal monetary policy. Dealing with revolutionary war scrip and resolving a fiat currency were stated aims. The founders didn’t envision that the Department of State would send an ambassador to the UN either but it’s a natural extension of the duties of that department they did establish. Any appeal to the founders implies allowing for reasonable differences between the world of then and now or it’s a pointless appeal. And the founders certainly did envision a governmental central bank that enacted monetary policy. It was a central argument of the day.