Chapter 9: Launching the New Ship of State 1789-1800 Flashcards
1
Q
What were some of the US economic trouble?
A
- French revolution
- Distrusted gov
- Public debt
2
Q
Early changes in America
A
- Growing population yay!
- Many people looked down on America, wondering if it would actually make it
3
Q
George Washington
A
- Drafted unanimously by Electoral College
- Established cabinet (advisors)
4
Q
Secrataries
A
Secretary of State: Thomas Jefferson
Secretary of Treasury: Alexander Hamilton
Secretary of War: Henry Knox
5
Q
Bill of Rights
A
- Tacked onto the constitution
- Anti-federalists criticized the constitution for lacking individual rights
- New list of imperatives
- Written by James Madison, protected American principles
6
Q
Amendments
A
- Need 2/3 vote by state or 2/3 vote of both houses of congress
- Protected American principles
7
Q
Judiciary Act of 1789
A
- Created federal courts
- Organized supreme court -> chief justice + 5 associates
8
Q
John Jay
A
- First chief justice of US
9
Q
Alexander Hamilton
A
- Treasury secretary
- Set out to correct the $ vexations that crippled the Articles of Confederation
- He planned to shape the financial policies of the admin that would favor richer groups
- the richer people could fund the gov in return
10
Q
Funding at Par
A
- The federal gov. would pay off its debts at face value and interest
- Total of more than $54M - They were paying back the government bonds
11
Q
Assumption
A
- The state debts could be regarded as a proper national commitment
- Hamilton thought that assumption would chain the states to the federal chariot more
- Supported rich
- Moved the rich supporters attachment to state to the federal gov
- Strategy to strengthen gov
- Appealed to states with more debt
12
Q
Financial changes
A
- National debt went up by $75M
- B/c Hamilton wanted to honor outstanding federal + state obligations
- known as “Father of the National Debt”
- focused on public health
13
Q
Tariffs
A
- Hamilton’s first idea to pay off debt
- 8% on imports and passed quickly
14
Q
Excise Tax
A
- Secured from Congress to tax domestic items like whisky
- caused Whiskey rebellion
15
Q
Bank of US
A
- Modeled off of Bank of England
- Private institution where gov was stockholder and Treasury would deposit surplus money
- convenient strongbox
- funds would stimulate business w/ circulation
- PAPER MONEY- believed to be unconstitutional
16
Q
Strict Construction
A
- Under the belief that the constitution should be interpreted literally/strictly
- Jefferson embraced this theory
- Hamilton thought they should go about it more loosely
17
Q
Elastic clause
A
States that the government has the power to create any laws that is necessary and proper.
18
Q
Bank of US
A
- Created by Congress in 1791
- Chartered for 20 years - Located in Philadelphia
- Had capital of $10 M
- 1/5 owned by federal gov