Chapter 13 Flashcards
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Hamilton used this term to refer to paying the national debt at par, or face value payment to speculators.
Funding
Hamilton used this term to refer to the governmental responsibility for state debts following the Revolutionary War.
Assumption
This was Hamilton’s idea for raising money by penalizing “sin” times such as cigarettes and alcohol.
Excise Tax
This institution, chartered initially 1791-1811 and rechartered 1816-1836, was a place to store government funds as well as provide capital for industry.
B.U.S.
This means a tax on imported goods and was supported by Hamilton as a means of protections(ism) for infant, or beginning, American industries.
Tariff
This agreement allowed payment of Northern state debts from the revolutionary in exchange for relocation of the nation’s capital to a site on the Potomac.
Compromise of 1790
Jefferson considered this self-sufficient, honest work man the ideal for the virtuous republic. Jefferson is credited as saying: “State a problem to a ploughman and a professor,” and “the former will decide it often better than the latter.”
Veonman farmer
Jefferson criticized this benefit, which allowed businessmen to sell their goods for a higher price, as tantamount to the government actually putting money into the pockets of capitalists.
Indirect Subsidy
This French term means government noninterference capitalists.
Laissez-Faire
This divides power between the central bureaucracy and the states; of course the dispute would revolve primarily about how much power the states versus the federal government would retain.
Federal System
This word refers to an entrepreneur who takes a risk in trading bonds in anticipation of making huge, quick profits.
Speculator
This historian wrote extensively about Thomas Jefferson and the Jeffersonian Republicans, including the book title Jefferson vs. Hamilton: Confrontations That Shaped a Nation.
Noble E. Cunningham Jr.
This historian has written extensively about the Founding Fathers, including the book titled HIs Excellency: George Washington.
Joseph J. Ellis
This word means “wise”, “astute,” “perceptive,” etc.
Sagacious
This portion of the Constitution is also known as the “elastic clause” and was interpreted by Alexander Hamilton and the Federalists as empowering the federal government act as is deemed “necessary and proper.”
Article 1, Section 8
As part of Hamilton’s program, this first of three major reports issued during his tenure as Secretary of the treasury called for funding of the national debt and assumption of state debts.
First Report on Public Credit
As part of Hamilton’s program, this called for the excise tax.
Second Report on Public Credit
As part of Hamilton’s economic program, this called for the tariff. The principle ideas of this third report of Hamilton were later absorbed by Henry Clay as part of his “American System.”
Report on Manufactures
This word means tending to drink too much alcohol.
Bibulous
This 1791 uprising occurred as George Washington made the decision to tax “distilled spirits” (i.e. alcohol) N.B.: although Washington was criticized for a show of force that was comparable to “going after a fly with a cannonball”, his handling of the crisis illustrated that the federal government was a force with which to be reckoned and stood contrast to the reaction to Shay’s Rebellion of 1786 under the time of the Article of Confederation.
Whiskey Rebellion
This father of Confederate general Robert E. Lee began his military career as a calvary officer in the Constitutional army, earning the nickname “Light-Horse Harry.”
Henry Lee
Also known as “loose construction” this theory of Constitutional interpretation as espoused by Hamilton advocated empowering the federal government by allowing it flexibility to do what was deemed “necessary and proper” as baed on Article 1, Section 8
“Broad Construction”
Also known as “literal interpretation,” this theory of Constitutional interpretation as espoused by Jefferson advocated reserving power to the states (people) that was not expressly given to the federal government as based on the Tenth Amendment.
“Strict Construction”
He served as Secretary of the Treasury during the presidency of George Washington and was the c chief spokesperson for the principles and ideals of the Federalist Party.
Alexander Hamilton
