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How Important Are We The Federalists

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The Federalist wants the obligations by obtaining new money at a more lower interest rate. The next step in the plan is to create a national bank, which was based off after the Bank of England. The national bank that Hamilton’s plan to repay our debt is by making the bank be able to collect our taxes, and also the national bank should be able to store government funds, and be able to let the government borrow money to the government, which they will have to pay back eventually. Congress is not given but should have the power to create banks because the Constitution states that the federal government authority to do anything that is necessary to carry out the constitutional functions is extremely important. Hamilton's debt program will be a remarkable success, and if this plan is …show more content…

Throughout our history we have seen so many people put their own interests and personal gains above patriotism and the needs of our country especially for example ,during the revolutionary War. People tend to be selfish and is usually out for themselves. We the Federalists do not trust any system of the government that involves in giving too much power to our people. This kind of system usually only leads to more error, confusion, and chaos. The best kind of form of government is a country that should be governed only by the educated, wealthy, and public-spirited men. The Federalists has the education, and background to run the country more wisely. Also for example someone from a lower class

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327 Words | 2 Pages

After the new Federal Constitution went into effect, those supporting it split between Thomas Jefferson and Alexander Hamilton. The ones who chose Hamilton, supported his economic plan. Hamilton’s plan for the nation included consolidating the state's’ debts under the federal government. He issued a report in which he proposed that the Federal government assume and fund all of the debts. He would then pay it by issuing new bonds at an interest rate of 4% payable over 20 years.

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512 Words | 3 Pages

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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668 Words | 3 Pages

Hamilton decided that all the debts should be paid at face value, in hopes of taking them from the States and putting them in a new National Bank. Hamilton’s fellow workmates, Madison and Jefferson, did not believe Hamilton had the right to create a National Bank. Hamilton, then stated that his Bank would be covered by the "Necessary and Proper" Clause. This was a very loose interpretation of the Constitution, was supported by Federalists. Being Democratic Republicans, Jefferson and Madison agreed with a strict interpretation of this clause for a weak government.

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246 Words | 1 Pages

A publicly funded debt contributed to national government stability. Previously, the treasury must not deal with Confederacy Era debt, although Hamilton suggested Congress to redeem fifty-five million dollars to foreign banks, soldiers, and contractors. The Republican ideology regarding debt was that America must pay it off and that states are responsible for their own actions. However, Hamilton’s response to the debt was to fund it, rather than paying it all off. He believed that debt is good, which was a contrast to the Republican ideology.

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824 Words | 4 Pages

Hamilton had a goal of strengthening the federal government, by coming up with ways to work around the strain of debt, he boosted the United States economy by doing so. Dealing with a problem that affects the whole country, such as debt, is tricky to deal with. There are many ways to go about fixing the problem, but a consensus has to be made. If there is argument and hostility, it takes longer to resolve conflicts. Hamilton strived for a “..vigorous central government.

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1147 Words | 5 Pages

Thomas Jefferson and the other politicians who agreed with his views (Democratic-Republicans), were inclined to believe that the American Revolution was an act of pure rebellion, only unifying with the other colonies for a common goal of independence. Such a view, if strictly followed, would mean there would have been no reason for the colonies to stay unified, and this scenario would have surely been the end of an established powerful nation. Alexander Hamilton and the Federalists on the other hand, tended toward the view of advancing the current American experiment with a few sacrifices that would cause great turmoil amongst the states but ultimately unify them. One of these great sacrifices would be to establish a national bank in which state debt would become a total sum known as a national debt. His view was that unless each state felt indebted and/or dependent toward a federal government, that the union would eventually fall apart, and what made the United States powerful and capable of claiming their own independence would fade away.

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879 Words | 4 Pages

as well as the states, which were very separate from each other in many aspects, so with the creation of a national bank Hamilton sought to address all these issues. The way Hamilton planned to do this was by assuming having the national bank assume the debt of all the states, resolve the concerns over fiat currency that was issued by the continental congress and raising money. So, by doing this Hamilton was not only getting the states to feel invested in the government, but also the speculators since they needed the government to pay off the bonds that were issued, and by paying the money owed to foreign creditors, the U.S. would start becoming a reliable partner; in other words, yes, the national bank was essential, a necessity to the well-being of the

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803 Words | 4 Pages

In 1790, Hamilton presented his financial plan to lift the nation of out its foreign and domestic debts, which included creating the Bank of the United States, also known as the federal bank. The creation of the federal bank proved to be Hamilton’s most contentious policy. The bank advanced Hamilton’s policy of regulating the economy through the federal government, which, in turn, would empower the federal government with greater political power to uphold liberty. Fearing the cronyism and bureaucracy that the federal bank would bring to the American government, Jefferson argued that the creation of the federal bank was, in itself, unconstitutional, as “the powers not delegated to the United States by the Constitution, nor prohibited by it to the states, were reserved to the states… To take a single step beyond the boundaries specifically drawn around the powers of Congress is to take possession of a boundless field of power.”

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99 Words | 1 Pages

The Federalists wanted a strong central government. The Anti- Federalists claims Constitution gives the central government too much power and, and they worried about the new constitution will not give them any rights. That the new system threatened freedom; Also, threatened the sovereignty of the states and personal liberties; failed to protect individual rights. Besides, some of famous peoples such as " Patrick Henry" and artists have came out against the Constitution. Although the anti-Federalists were unsuccessful in stopping the passage of the Constitution, their efforts have been responsible for the creation and implementation of the Bill of

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998 Words | 4 Pages

Adams believes that the National Bank is necessary and beneficial to the government. Hamilton proposed this idea because the country needed to pay back war debts. It’s a safe place to deposit tax money and helps support the increase of trade and helps increase the use of paper money. The issue of the National Bank was a big argument in the country, the Federalists wanted to create the bank to help the economy of the United States while the Democratic-Republicans said that creating a bank probably will not make any difference and the power of creating a National Bank is not given to the government by the Constitution. Alexander Hamilton, one of the Federalist party leaders stated that: “ ‘Necessary’ often means no more than needful...useful…”

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1568 Words | 7 Pages

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.

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1040 Words | 5 Pages

He said that the government should assume all debt and pay it in full. To pay back the debt, Hamilton recommended that the government borrow more money and pay the interest routinely and on time. By doing this, the government would successfully pay off all of the old debt and by paying interest on the new

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423 Words | 2 Pages

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

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345 Words | 2 Pages

Scholars argue that Federalist #10 can be considered the most important explanation of the genius of our federal political system. Written by James Madison, he directed everyone’s attention to the argument in favor of the Constitution, where many believed it established a government that was suited in regulating the corruption done by factions. However, Madison brought to attention the situation in the republican government, where the power is vested in the people, the majority would often sacrifice the minority’s rights to their own egotistical desires. He went further to argue that by setting up an extended republic, including multiple social groups, it would prevent the society from dividing between the wealthy and the poor.

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757 Words | 4 Pages

URST Final Exam Assignment 1 Cortnee Chenault Final Exam In this essay, we will be discussing all of the things that we have come across in the past units. America has many rules and regulations to keep itself in order and to keep in order to the government and to the citizens of the United States of America. Each and every part that plays a role in the states that Americans live in, there are changes made. Changes as in differences that can be made by people performing the actions that they make.

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