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Thomas jefferson vs. alexander hamilton dbq
Political philosophies of thomas jefferson and alexander hamilton
Political philosophies of thomas jefferson and alexander hamilton
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In the 1790s, the first Secretary of the Treasury, Alexander Hamilton and fellow Federalists wanted to protect the United State's economic future through several different means; namely, the creation of a national bank, maintaining good financial credit, and by developing a lasting economic system. The United States was in turmoil, still rebuilding from their recent detachment from Britain. The United States government was in shambles, its economy arguably in an even worse one. It was for that reason that president George Washington elected Alexander Hamilton to develop a sound economic plan for the United States. Hamilton and his fellow Federalists had many ideas for improving the economy; however, the Republicans or Anti-Federalists, were disinclined to agree with their federalist counterparts due to opposing views on government authority.
Alexander Hamilton and the Federalist had different ideas did Thomas Jefferson and the Republicans. (Schultz, K. M. 203). The Federalists believed they could learn a lot from Great Britain and that the United States should be designed like England 's government. they wanted centralized bank and Federal Constitution.
Alexander Hamilton had a financial plan that included setting up a national bank. Thomas Jefferson opposed the idea of having a
From 1794-1824, Thomas Jefferson and Alexander Hamilton had contrasting views on how the government and country should operate. Hamilton focused on fixing short-term financial issues through his Financial Plan by uniting the states under a national bank and creating protective tariffs to establish American manufacturing. Jefferson opposed many of Hamilton's ideas because he feared they would give too much power to the federal government. He encouraged farming and resisted Hamilton's belief in a strong manufacturing system. Both visions fought one another to gain favor, but one was more prominent overall.
President Washington appointed Alexander Hamilton as the Treasury Secretary, and Thomas Jefferson as the secretary of state. Within the government, two opposing views emerged as possible ways to improve the economic state of the country. Hamilton believed in strong federal government, hence, proposed that the federal government would assume the debts of the individual states, assume the Confederation’s debts at par, and establish a national bank. In contrast to Hamilton’s proposal, Jefferson felt that the states should hold bigger authority than the federal government, since the states were nearer to the people and were less likely to exploit their power. These two views emerged as the two political views, and eventually formed the basis
The creation of the first bank in the United States prompted a political debate which started in 1791, and went on in the following years. Hamilton’s plan foresaw a bank provided with special powers and privileges, which gave birth to a wide opposition. Although Hamilton 's idea continues to exist in today’s economic environment, at that time his proposal was met with widespread resistance from individuals such as James Madison and Thomas Jefferson, who considered the creation of a federal bank as unconstitutional. Following to a broad interpretation of the Constitution, Hamilton argued that in order to have an effective bank, Congress should be provided with all the powers required. Jefferson disagreed with Hamilton, and claimed that the establishment of such a bank was not consistent with the powers that the Constitution granted to Congress.
The problems America faced were whether or not to establish a national bank or state banks, whether to focus on an agricultural economy or an industrial economy, and finally, how to deal with state debt. On his cabinet, Washington had the best federalist, Alexander Hamilton, and democratic-republican, Thomas Jefferson. In 1791, whether or not to install a national bank was a topic. Thomas Jefferson believed in the strict interpretation of the Constitution and argued that instilling a national bank was unconstitutional. The power to choose should have belonged to the state governments (Doc C).
He successfully argued for the assumption of state debts by the federal government and the establishment of the first national bank – a private, but partially government-owned institution. He firmly established the principles of financial trading. Due to his efforts, the creditworthiness of the United States was restored. Hamilton’s accomplishments as Treasury Secretary were not achieved without a struggle. His congressional opponents tried to exhaust him by demanding detailed reports on the workings of the treasury department with incredibly short delivery dates.
Hamilton interpreted it loosely while Jefferson was strict. This led to an argument about whether the creation of a national bank was constitutional; Hamilton stated it was while Jefferson claimed it wasn’t. Another issue that they clashed
Hamilton wanted to create public credit with a treasury system, a national bank, a mint, and increase manufacturing which would help unify the country. On the other hand, there was Jefferson, who opposed a strong central government. He argued that the “wealthy would gain at the expense of ordinary Americans and that Hamilton’s political economy would corrupt the morality of citizens and undermine the social conditions essential to republican government”(Powerpoint). The country would opt for an approach closer to Hamilton’s views. One of the first acts was the National Banking Act.
A year ago, any mention of Secretary of Treasury Alexander Hamilton would make me groan and recall a dry, boring sentence about The Federalist Papers in my AP United States History textbook. Now? I think of a charming, determined ladies’ man with a bit of a temper that can throw-down the best rap the eighteenth century has ever heard. Hamilton, a game-changing, hip-hop inspired musical, brings Ron Chernow’s biography of the titular Founding Father to the Broadway stage.
The need for a national bank was very much so necessary. Hamilton also convinced president Washington to sign the bank bill by his lengthy report that stated: “This criterion is the end, to which the measure relates as a mean. If the end be clearly comprehended withan any specified powers, collecting taxes and regulating the currency, and if the measure have an obvious relation to that end, and is not forbidden by any particular provision of the constitution, it may safely be deemed to come with the compass of national authority.”
Before Andrew Jackson, Alexander Hamilton and Thomas Jefferson were in a disagreement whether the Bank Of America was constitutional or unconstitutional. Andrew Jackson knew it was unconstitutional, so he vetoed making the second bank. Although the people that were the angriest about this were the elite, he still stood by his decision.
Jefferson and the Democratic-Republicans were strict constructionists who believed that if the Constitution didn’t allow something, it was forbidden. Hamilton and the Federalists were loose constructionists who believed that if the Constitution didn’t forbid it, it was allowed. He explained his loose constructionist views in “Hamilton’s Opinion as to the Constitutionality of the Bank of the United States,” saying, “If the end is clearly found within any of the specific powers, and if the law has an obvious relation to the end, and it is not forbidden by any particular provision of the Constitution, it may safely be deemed to come within the compass of the national authority.” The National Bank held money for the nation, funded the government, and put private and public money together for a capital pool. Hamilton liked the National Bank because it loaned money to
Alexander Hamilton may have been one of our founding fathers, but he was actually born in the West Indes on the island of Nevis. Hamilton’s exact birthdate is unknown. He was born on either January 11, 1755 or January 11, 1757. As a young boy, Hamilton was educated by his mother on the island of St. Croix.
