Chapter 7 Test Flashcards
excise taxes
taxes on goods produced + used inside a country
precedents
earlier examples
cabinet
heads of federal departments who advise the president
national debt
the amount of $$$ a country owes
we owed about $77 million
Privateers
armed private ships authorized to attack enemy vessels
bonds
treasury certificates sold to citizens to raise $$$ for the federal government, by the government
speculators
investors who buy bonds, stocks or land, gamble that someday the government would be able to pay off its bonds at full value
Bank of the United States
a national bank with branches in major American cities
GW hesitated because it wasn’t in the Constitution
bank notes
paper $$$ produced by banks to represent the $$$ they have on deposit in the Bank of the US
loose construction
congressional action is constitutional as long as the Constitution does not clearly forbid it
strict construction
congressional action is constitutional only if the US Constitution specifically says that Congress has the power to carry out that action
XYZ affair (October 1797)
- John Adams sent 3 US diplomats to France to meet Charles-Maurice de Talleyrand
- Instead of Talleyrand, 3 French secret agents (X, Y + Z) said Talleyrand would not discuss the issues until he received a LARGE BRIBE!! :(
Alien + Sedition Acts
Series of laws passed by Federalists aimed at
- foreigners in US
- Republicans who supposedly tried to weaken the government
Political Parties
Groups of people who organize to
-help elect government officials and try to influence government policies
Jay’s Treaty (1794)
Treaty negotiated by John Jay between US + Great Britain
- ) British promised to improve trade relations
- ) British withdrew troops from forts on US western frontier
- ) British agreed to pay damages to shipowners who vessels had been seized
* US agreed to pay debts owed to British merchants prior to Revolutionary War