George Washington paying back debts with hamilton Flashcards
Inauguration
_Where the presents is sworn in under oath
Precedent
an act or descicsion that sets examples for others to follow
Why were people having trouble? AKA WASHINGTON
The constitution only had the framework, not the day to day job of the presednet
Cabinet
A cabinet is ruled by 15 secretary’s and help make decisions. It started with 5
-Tresuary
attorney general
-Secertairy of state
-Post master
-Dep. of war
What were the 5 the cabinet started with?
-Tresuary
attorney general
-Secertairy of state
-Post master
-Dep. of war
National Debt
The TOTAL sum of money the government owns to others
Hamilton
Thinks to sell bonds to the states bascicalt buy up the old debt with new debt
Bond
A promise to repay the money loan + interest. How ever number of years (10)
Madison
A congressman thinks Hamilton has a bad plan because of southern states dissagrment
Judiciary Act
This act called for the supreme court to have 1 cheif Justice and 5 associate justices.
Outcomes of the Judicicary act?
There were national courts set up with 5 associate justices and one cheif justice
Foreign policy
laws and rules with other states
National Debt vs. State debt
National Debt is the amount for money the country owes to another country
State debt is the amount of money the state owes to the government
Speculator
A person that is willing to buy off bonds and try to make a big profit. Set 10 years, but Hamilton plans to pay it off earlier.
Tarrif
A tax on imported goods
National bank
Hamilton comes up with the idea of national bank. The national bank is going to do 3 things:
-Print money
-collect taxes
-give loans
Why is the national bank controversial
It’s controversial because it’s not in the emulated powers.
What were 2 compromises to Hamilton’s plan?
-Move the capital to Washington D.C.
-Have low tariffs
Whiskey rebelion
A tax was put on whisky
The farmers (the south) did not like this because whiskey was made out of corn.
Neutrality Proclamation
US declares neutrality because we had no soldiers/ army. We had no money either. This caused us to explain, if you see an american flag, we mean peace.
Jay’s treaty
We sent a guy over names “JOHN JAY” because our ships were getting caputured. Jays treaty helped with:
-All soilders/ forts were going to get taken out of Ohio River Valley
-England to pay for the damage of the ships
-We had to pay British merchants back debt
Adams
2 US president
did not like slavery
founding father
Republican
This was lead by Jefferson. This turned into the democratic party today
Fedrealist
This was lead by Hamilton. This was Adams party so was favored.
XYZ affairs
The US wanted to meet with “Mr.T” but instead sent over secret agents to talk. If they wanted to meet with “Mr. T” they had to give a $250,000 and $10 million loan to France. They didn’t want to give them the secret agent’s names so they called them “X,Y,Z”
Sedition
Made it illegal to publish anything that criticized the president, congress, or the laws created.
People thought these violated Amendment l (freedom of press and speech)
Alien acts
Alien means immigrants. The federalist and congress passed this law, Passed to strengthen the federalist and weaken the republicans. moved it to 5 years, to 14 years before immigrants could vote
Nullify
Means to cancel or erase a law
The Virginia and Kentucky Resolutions
The states resolved the alien and sedition act.
