Paying Debt
What was the most pressing need of the first governemnt?
Paying off the war debt from the Revolution.
Why did some people oppose Hamilton’s plan?
They thought it was unfair to original bond buyers.
What were Hamilton's supporters called?
Federalists.
Who was the first president of the United States?
George Washington.
What year were the Alien and Sedition Acts passed?
1798.
What did the Tariff Act of 1789 tax?
Imported goods.
Why did some original bondholders sell their bonds?
They feared they would never be repaid.
Who led the opposition to Hamilton?
Thomas Jefferson and James Madison.
What rebellion did Washington put down in 1794?
The Whiskey Rebellion.
Who were aliens?
People living in the country who were not citizens.
What were bonds?
Notes promising to repay borrowed money with interest.
What did some bondholders sell their bonds for?
Less than their full value.
What did Hamilton believe made the nation strong?
Manufacturing and trade.
What did the Whiskey Rebellion protest?
A tax on whiskey.
What did the Alien Acts allow the president to do?
Deport certain immigrants.
What did Hamilton want the government to do with the bonds?
Pay them back at full value.
Who were some of the people who had sold their bonds?
Veterans of the Revolutionary War.
What did Jefferson believe was the backbone of the economy?
Agriculture and independent farmers.
What treaty helped avoid war with Britain?
Jay's Treaty.
What did the Sedition Act make illegal?
Criticizing the federal government or its officials.
What bank did Congress create in 1791?
The Bank of The United States.
What did Hamilton want the government to do with the bonds?
Pay them back at full value.
What was the name of Jefferson's political party?
The Democratic Republicans.
What did Washington warn against in his Farewell Address?
Political divisions and long-term foreign alliances.
Which two states passed resolutions against these laws?
Virginia and Kentucky