Differences Between Jefferson And Hamilton

Alexander Hamilton and Thomas Jefferson were two different people with two very different views and opinions. Jefferson thought everything Hamilton tried doing to put America on a path of greatness, was a step onto a road to ruin. One of the big, controversial issues they disagreed on was the economy; the dispute was over whether manufacturing or agriculture should be the main source to increase the nation’s revenue. Economy is very important to a nation’s success, so both men felt very strongly on this topic. The Federalist, who’s most influential leader was Alexander Hamilton, believed in expanding the economy’s income from just agriculture to manufacturing, trade, and business. First, Hamilton’s plan was to start by paying off the debts

If a national bank was approved and built, one of its jobs would be to print money which would give the nation unity by providing everyone with the same form of currency. Alexander Hamilton stated, “Industry is increased, commodities are multiplied, agriculture and manufactures flourish: and herein consists the true wealth and prosperity of a state.” This meaning, if a national bank was put into place, almost every aspect of the country would be more prosperous. Lastly, the national bank would provide citizens with loans to establish new factories and build ships, which would assist the economy’s income, and would begin a continuous cycle. The big question was, “Does Congress have the power to establish a national bank?” Hamilton’s view was that Congress did have the power to approve a national bank under the Elastic Clause. The Elastic Clause states, “Congress has the power to make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or any Department or Officer thereof.” Hamilton’s dream for America was for the bank to help the economy grow and prosper, his dream became a reality in 1791, when Congress authorized Hamilton’s proposal of a national

Jefferson and Hamilton had completely different views on nearly every issue. Thomas Jefferson thought everything Alexander Hamilton was doing as an attempt to put America on a path to greatness was putting America on a road to ruin. Jefferson believed America’s future was in plain, Republican farmer’s hands. Jefferson said, “Those who labor in the earth, are the chosen people of God, if He had chosen people.” This means he favored an economy built off of agriculture. Jefferson and his party opposed the idea of a national bank because it would subsequently promote growth in business and manufacturing, not agriculture and farming, as he wanted. The Republicans saw the national bank as unconstitutional. They thought this because they inferred that they would be willing to give loans to business people to build ships and factories, but not farmers to purchase