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Compare And Contrast Whig And Federalists

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I believe that the Federalist/National Republican/Whig parties are the most beneficial for our nation. They believed in a very strong central government, protecting our freedom, and focusing on infrastructure, and these beliefs helped us make strides in becoming a stable nation. Although they primarily focused on having only the wealthy and elite citizens be in positions of power, many of their politics, such as the National Road, benefited our country in the long run; the Democratic-Republican party claimed to advise the common people, yet led to the opposite through economic crisis, especially when they got rid of our National Bank. The Federalist/National Republican/Whig parties played an essential role in shaping our early nation by fostering …show more content…

The National Bank also helped fund infrastructure projects, facilitating more westward expansion and significant economic growth. Using this National Bank, we could put out a 15-year bond and purchase Louisiana Territory. Under Thomas Jefferson’s rule, they expired the National Bank in 1811, before the bond reached its end, and now they have little funds for the bond and no funds for the military. The Jeffersonian-Republicans expired the National Bank because they believed that it gave the government too much power and that it was taking away the rights of the states. To Thomas Jefferson, this went against his belief in a less involved government and autonomy for the common people and their states. If the Jeffersonian-Republicans maintained the National Bank that the Federalists created, they would not have to create a second National Bank to pay off their 15-year bond (Troubles 1). I believe that if we had not expired the Federalist’s National Bank, we would not have had to create a second bank, and therefore, we would not have gone into the Trade War, the creation of Western Catipillar banks, and the eventual panic of

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He promoted assumption of the states debt, which in turn, chained the states to the federal government and shifted the attachment of wealthy creditors. Though despite southern states protest, that it was unfair that some states received a free pass, since many of them had already paid their debt off, Hamilton’s plan was still approved. Hamilton went on to propose and create the Bank of the United Sates, The federal government ended up owning one-fifth of the bank, allowing them to control large sums of money, with little room for opposition on how and where it went. Despite Jefferson argument that there was no authorization in the constitution for such an economic octopus, Hamilton argued that the bank was not only necessary but also proper. This is turn evolved the theory of loose construction by invoking the elastic clause of the constitution- a model for enormous federal

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The institution would be funded by the federal government. Since the Bank of the United States would own millions of new U.S. bonds, its strength and federal government would correlate. Because of the guarantee of the National Bank and Government, the funds deposited into the bank would remain same value while in circulation. In addition, he suggests that America should develop its own industries such as textile mills for economic support. Contrary, Jefferson disagreed with Hamilton’s ideas and decided that Americans should not completely rely on Textile Mills and manufactures as it would force people to move from the countryside and into the inner

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However, the Louisiana Purchase created an additional 15 million dollars to the US National Debt, and this debt was one that the United States could not afford. To fix the problem of the National Debt, Jefferson, who had previously said in Document C that “The incorporation of a bank, and the powers assumed by this bill, have not, in my opinion, been delegated to the United States, by the Constitution”, used Alexander Hamilton’s idea of using the National Bank to pay of the debt. Jefferson, going against the very opinion he stated of the National Bank not being Constitutional, used the National Bank to pay off most of the debt, which went against Republican belief on the lessening of taxes the people and also the prevention of a creation of a National Bank. In Document J, Jefferson asks permission from congress to send an expedition group to explore the Louisiana territory that he bought extra-constitutionally. Congress now had no choice but to deal with a matter that they had no decision in prior to it.

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