Paying Debt
Paying off the war debts from the Revolution
Why were people against Hamilton's plan of bonds?
Hamilton’s supporters called themselves this political group.
The Federalists.
By the spring of 1793, these French radicals had seized control and executed thousands of people.
The French revolutionaries.
In 1798, the Federalists pushed four laws through Congress known by this name
The Alien and Sedition Acts.
What act was passed to help finance the government? (James Madison's idea).
Tariff Act of 1789
What was Madison, Hamiliton, and Jefferson compromise on the issue of bonds in 1790?
They would go through with Hamilton's plan, and in exchange, the nation would build its capital near the Potomac River. (District of Columbia)
Madison and Jefferson led this group that opposed Hamilton’s financial program.
The Democratic-Republicans
Federalists were shocked by the violence and chaos of the French Revolution and opposed these people.
The French revolutionaries.
The first law increased the waiting period for immigrants to become citizens from 5 years to this many years.
14 years
what are bonds?
Hamilton asked Congress to create a national bank to manage the nation's debts and also issue what?
Hint; promoted trade and econmic growth
what is paper money
Hamilton believed manufacturing and trade were the basis of this.
National wealth and power.
The United States traded with both Britain and this country when France declared war on Britain.
France.
Sedition is defined as incitement to this action
Rebellion.
Whose idea was it to issue bonds?
Alexander Hamiliton
What was Hamilton's response to the Southerners and James Madison disagreeing with his idea of a national bank, and the argument that it went against the Constitution?
He brought up implied powers-powers not explicitly listed but necessary for the government to do its job.
Jefferson believed the strength of the United States came from these people
Independent farmers.
In April 1793, Washington issued this to keep the United States out of the conflict.
The Proclamation of Neutrality.
The Virginia and Kentucky Resolutions were written anonymously by these two political figures
Thomas Jefferson and James Madison.
Why was it thought that being in debt was actually beneficial for the federal government?
It gave people who owned the bonds confidence in the federal government's financial stability to lend money again.
What was the result of Congress taxing the manufacture of whiskey?
The Whiskey Rebellion of 1794
(Farmers rebelling due to their use of whiskey in farming)
Democratic-Republicans generally supported this over commerce and trade.
Agriculture
The Proclamation of Neutrality made it illegal for American citizens to do this for either warring nation.
Aid either warring nation.
Advanced by the Kentucky Resolutions, this theory states that states have the right to declare an unconstitutional federal law invalid
Nullification.