Paying Debt
What was the biggest problem of the first presidency?
What compromise ended the debate over Hamilton's financial plan?
Southerners supported Hamilton's plan in exchange for placing the nation's capital on the Potomac River.
The Federalist Party (supporters of Hamilton) and the Democratic-Republican Party (founded by James Madison)
What happened shortly after George Washington's inauguration in 1789?
The French Revolution began in Europe
Who were the first 3 laws of the Act aimed at?
Aliens
Act of 1789 & Tonnage Act
What did Hamilton ask Congress to create to manage the nation's debt?
A National Bank that issues bank notes (paper money)
What did Jefferson believe about owning land?
Owning land will enable people to be independent and fight to perserve the republic.
What proclamation was issued by Washington in 1793?
The Proclamation of Neutrality (between the French and British)
What power did the Act give to the president?
By 1789, how much money did the United States owe in total to the American citizens and foreign leaders?
$51.7 million
Why did Madison argue that Congress could not establish a National Bank?
It was not among the federal government's enumerated powers
Which party did the rural South and West tend to support?
The Democratic-Republicans
What event pushed Congress to the brink of war in 1794?
The British intercepting hundreds of American ships and encouraging their Native American allies to attack western settlers.
What power did the states have over a law that was unconstitutional?
Why did Hamilton believe the U.S. government should be able to borrow money?
To pay war debts and fund the Revolutionary War.
What are implied powers?
Powers not listed in the Constitution but required for the government to do its job.
What were Thomas Jefferson's ideas referred to as?
Agrarianism
Who did George Washington send to Britain with the intent to seek a solution?
John Jay
Which state's resolution advanced the theory of nullification
Kentucky
Why did Hamilton want Congress to redeem the bonds at full value?
What tax was imposed by Congress in 1791, and what did it lead to?
Excise tax on whiskey, the "Whiskey Rebellion" 1794.
Are the Republicans from the 1790s the same as the Republicans as present day?
No, the "Republican" party of 1790 is now the present-day Democratic Party.
What did the Democratic-Republicans accuse the Federalists of after John Jay negotiated a treaty with the British?
They accuesed the Federalists as being "pro-British"
Which state introduced the theory of interposition?
Virginia