Dept in the New Government
What is the Madison plan?
Tax on Imports
What was the most pressing need the new government had?
What is revenue
Who emerged as the main leader of the Democratic-Republicans alongside James Madison?
Thomas Jefferson
What event began in Europe shortly after Washington’s 1789 inauguration?
French Revolution
What is a note issued by the government that promises to pay off a loan with interest?
What is a bond.
How did the government fund the Revolutionary war?
Bonds.
What economic activities did Alexander Hamilton favor to build national wealth and power?
Manufacturing trade
Which political group was shocked by the violence and executions carried out by French radicals?
Federalists
By 1789 how much money did the US owe other countries?
$40 million dollars
Why did Alexander Hamilton ask Congress to establish a national bank?
To manage dept and the economy
What philosophy centered on independent farmers and land ownership did Thomas Jefferson promote?
Agrarianism
What action did the British military take against American shipping despite Washington's declaration?
Intercepted ships
How much money did the United States owe to American citizens and foreign lenders combined by 1789?
$51.7 million
On what constitutional grounds did James Madison oppose the creation of a national bank?
Enumerated powers
Which section of the nation generally supported the Democratic-Republicans?
Rural South
What specific item was hit with an excise tax in 1791, triggering anger among western farmers?
Whiskey
How long was the charter granted by Congress for the Bank of the United States in 1791?
20 years.
Which region of the nation tended to give its support to the Federalists?
Urban Northeast