Hamilton amp Jefferson Rivals Hamilton Born in West Indies works his way up in the govt Jefferson Very gifted student Wealthy farming family becomes a tobacco farmer Wrote Declaration of Independence ID: 478032
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Slide1
Federalists and Democratic-RepublicansSlide2
Hamilton & Jefferson: Rivals
Hamilton
Born in West Indies, works his way up in the govt.
Jefferson
Very gifted student
Wealthy farming family, becomes a tobacco farmer
Wrote Declaration of Independence
Better w/ writing than speakingSlide3
Funding the Public Debt
Feds
Assumption
National government takes on the debt
the states gathered during the Revolutionary War
Want to pay off debts quickly
Increase taxes
(imports; excise taxes)
D-R
Nervous about
the national govt. assuming debt with assumption and
too much
govt
spending
Repeal taxes for now—if we have a war, we will have a fresh start to come up w/ a tax planSlide4
Relations with France & GB
Feds
Wants us to be like
Great Britain
eventually—use them as a model
Shies away from France once their Revolution turns violent/bloodyProposed import duties designed to make us dependent on GB
D-R
Support French
-Felt
sense of loyalty during their revolution—they were our allies during our Revolutionary War
Did not approve of import duties meant to make US dependent on GBSlide5
National Bank
Feds
Loose interpretation of Const.
Money is property of the US; Congress is authorized to regulate US property
Help w/ collecting taxes; give loans to business people
Bank
passes
—
capital is moved to DC in exchange
D-R
Strict interpretation of
Constitution—it DOES NOT say we can have a bank in Const.
Const. does say power not specified in Const. belongs to states—we can have state run banksSlide6
Manufacturing & Agriculture
Feds
Wants the US economy to move away from agriculture
Focus more on trading, businesses and manufacturing
Wants more educated and wealthy people in charge of
govt
D-R
Believe in agricultural economy
Want farmers and the common people to be involved in the
govt
Opposed measures designed to encourage growth of business (bank)Slide7
Jay’s Treaty:
Agreement w/ US & GB. GB promises to leave NW forts and stop impressing US boats
Feds
Strategy to avoid war w/ GB
Strengthened economic ties w/ GB
D-R
Felt the treaty disregards previous agreements w/ France
Tilts US closer to GB, which they do not likeSlide8
Alien and Sedition Acts
Feds
Wrote, passed, and enforced Acts
Put newspaper editors on trial for statements they made
D-R
Fought against
them
-
believed they were unconstitutional (freedom of press, speech)
Believed Feds were trying to ruin the D-R party
VA and KY Resolutions
: statements written by D-R leaders in VA and KY declaring the Alien/Sedition Acts unconstitutional and stating they were therefore null (would not follow)