Chapter 7 Flashcards
They were much more free blacks
As a result of the social turmoil during the Revolutionary war
Overall the United States in 1790
Was predominantly rural society 82% of households were involved in agricultural production
Why did Pres. Washington assume office
He felt he had been summoned by his country
Although John Adams criticize Washington for being too ill literate Washington possessed
Virtues that Adams liked
Washington also possessed
Political skills convincing the Continental Congress to keep his army supplied
What did Washington appeal for in his inauguration
National unity and pleading the new Congress to abandon local prejudices and party animosities in order to create a national outlook necessary for the republic to survive
For the department of state Washington appointed
Jefferson
For secretary of treasury
Pick Alexander Hamilton
Edmund Randolph fill the new position
Attorney general
Congress set the membership of highest court to
Six members and five associates and created 13 federal district courts
Who was the first chief justice
John jay
Who requested a Bill of Rights
Massachusetts New York Virginia and North Carolina
Who proposed the Bill of Rights
Madison
The first eight amendments to the Constitution provided
Safeguards for specified rights of individuals including freedom of religion press speech and assembly
Ninth and 10th amendments address the demand for
Specific statements and the numeration of rights in the Constitution shall not be constructed to deny or disparage others retained by the people
The man who drafted an amended the constitution
No direct mention of God
They were determined to protect
Freedom of religion from government and Fred was interference or coercion
Governments have three basic ways to raise money to pay their bills
They can impose taxes they can borrow money by selling interest pain government bonds and they can print money
To raise government money Hamilton believe
United States needed to unleash the energy in the Bashan of its citizens so as to create a vibrant economy driven by the engines of capitalism
Hamilton insisted that the state debts from the revolution were a
National responsibility because all Americans had benefit from the war for Independence
Hamilton also believed that a government commitment to repay its debts would give
Investors a direct stake in the success of the new national government
A national debt he claimed would serve
Mechanism for national unity and prosperity
Hamiltons controversial first report on public credit made two met commandments
It called for funding the federal debt at face value which meant that citizens holding deflated war bonds could exchange them for new interest-bearing bonds and second I declare that the federal government should assume state debts from the revolution
Madison was troubled by Hamiltons economical system
Because it would make speculative investors become the chief beneficiaries
New England with the largest unpaid debts stood to be
The greatest beneficiary of Hamiltons plan for the federal government to pay off the state debts
Madison had another alternative which was
How the government assumes state debts as they stood in 1783 at the conclusion of the Peace treaty
In return for northern votes in favor of locating the permanent national capital of on the Potomac River
Madison pledge to seek enough southern votes to pass the debt assumption plan
Hamiltons financing scheme was in
Immediate success
What did the second of the reports of public credit include
Proposal for a liquor tax to raise revenue to recommended a national Bank and a national mint
What was the report on manufactures
It proposed an extensive programof government aid and other encouragement to stimulate the development of manufacturing and prizes so as to reduce the dependence imported goods
What were the three priorities of the bank
To serve as a secure repository for government funds and facilitate the transfer of money to other nations to provide loans to the federal government and two other banks to facilitate economic development and to manage the nation’s money supply by regulating the money issuing activities of state-chartered banks
I holding government bonds and using them for collateral
The national Bank could issue banknotes thereby providing a national currency that would address the chronic shortage of gold and silver coins
Why did Madison oppose the national Bank
There is no basis in the Constitution for a national Bank
The national Bank demonstrated the differences between the north and the south
Because the north favorite at it but the South opposed it
What were the main questions with the national Bank
Should there be a strict or broad construction of the Constitution or the powers of Congress only those explicitly stated or were others implied
In the last of us celebrate reports the report on manufactures
He set in place of the capstone of his design firm of a modern national economy: governmental encouragement of manufacturing enterprises
What were several advantages that Hamilton believed manufactures could do
It would bring diversification to an economy dominated by agriculture improve productivity by the greater use of machinery provide paperwork for those not ordinarily employed outside the house encourage immigration to provide industrial workers create more opportunities for entrepreneurship and expanded domestic market
