Hamilton Vs Jefferson Flashcards
Hamilton’s report on the national bank
Propose to create a national bank with capital of $10 million
Opposition to Hamiltons report on the national bank
Madison and Jefferson argued that the Constitution have not come third Congress the power to charter companies
Hamilton’s response- “necessary and proper” means of power- elastic clause
Washingtons role in National bank
Washington sign the bill into law
Hamiltons report on manufacturers December 1791
Encourage manufacturing industrialisation through protective tariffs
How was Hamilton success
Restored public credit foreign capital Floden and productivity increased- financially successful
Criticisms of Hamilton
Divided the union southerners feared the diminish of state powers and hostile takeover by northern bankers and speculators
The rise of political parties
Rose from disputes from Hamiltons measures
What influenced Thomas Jefferson
Southern roots, French Revolution, enlightenment
The whiskey rebellion 1794
Against Hamilton’s proposed tax
500 armed men attacked and burned home of reigonal tax inspector
George Washington’s reaction to whiskey rebellion
Issued proclamation to send them home- after negotiations ordered 13,000 troops and rebels backed down
Tried rebels and significance
2 convicted men pardoned by president- showed his power but also his motivation to not be a military dictator
Democratic republicans reaction to whiskey reb
Appalled by gov force