Hamilton's Financial Plan
What were the four main points of Hamilton's Financial Plan?
Pay off debt
Protective Tariffs
Create a national bank
Tax whiskey
What was the number one issue facing Washington when he entered office?
Debt from the Revolutionary War
What were the names of the first two political parties?
Federalists and Democratic-Republicans
“Agriculture is our wisest pursuit, because it will in the end contribute most to real wealth, good morals, and happiness”.
Democratic-Republican
What is the rebellion that started due to his plan?
The Whiskey Rebellion
Who was Washington's Secretary of Treasury?
Hamilton
Which political party favored a strong central government?
Federalists
Federalist
What did Hamilton want to protect with his protective tariffs?
Manufacturing
Name the 4 Precedents set by Washington
Two Term Limit
Use of domestic force
Neutrality
Executive Cabinet
Which party favored a National Bank?
Federalists
"That government is best which governs least"
Democratic Republican
Why did Hamilton want to create a national bank
To stabilize the economy (by creating a place for the government to deposit its revenue and create a stable currency)
How old was Washington when he died?
67
Which party had a strict interpretation of the Constitution?
"I believe that banking institutions are more dangerous to our liberties than standing armies,"
Democratic-Republican
A deal was made with southern states (who mostly had already paid off their war debt) so they would agree to allow the federal government to assume state debts. What did the South get out of this deal?
Washington DC/The nations capital would be built in the South (Between Virginia & Maryland).
Who was Washingtons Secretary of State?
Jefferson
Who was our first Democratic-Republican President?
Thomas Jefferson
"The trade of a country which is both manufacturing and Agricultural will be more lucrative and prosperous, that of a Country, which is, merely Agricultural"
Federalist