Chapter 7 Test Flashcards
(21 cards)
excise taxes
taxes on goods produced + used inside a country
precedents
earlier examples
cabinet
heads of federal departments who advise the president
national debt
the amount of $$$ a country owes
we owed about $77 million
Privateers
armed private ships authorized to attack enemy vessels
bonds
treasury certificates sold to citizens to raise $$$ for the federal government, by the government
speculators
investors who buy bonds, stocks or land, gamble that someday the government would be able to pay off its bonds at full value
Bank of the United States
a national bank with branches in major American cities
GW hesitated because it wasn’t in the Constitution
bank notes
paper $$$ produced by banks to represent the $$$ they have on deposit in the Bank of the US
loose construction
congressional action is constitutional as long as the Constitution does not clearly forbid it
strict construction
congressional action is constitutional only if the US Constitution specifically says that Congress has the power to carry out that action
XYZ affair (October 1797)
- John Adams sent 3 US diplomats to France to meet Charles-Maurice de Talleyrand
- Instead of Talleyrand, 3 French secret agents (X, Y + Z) said Talleyrand would not discuss the issues until he received a LARGE BRIBE!! :(
Alien + Sedition Acts
Series of laws passed by Federalists aimed at
- foreigners in US
- Republicans who supposedly tried to weaken the government
Political Parties
Groups of people who organize to
-help elect government officials and try to influence government policies
Jay’s Treaty (1794)
Treaty negotiated by John Jay between US + Great Britain
- ) British promised to improve trade relations
- ) British withdrew troops from forts on US western frontier
- ) British agreed to pay damages to shipowners who vessels had been seized
* US agreed to pay debts owed to British merchants prior to Revolutionary War
Treaty of Greenville (1795)
- American settlers pushed past Appalachian Mountains into Native American territory
- Native American tribes joined together to form a confederacy (Michikinikwa “Little Turtle” Miami chief)
- They defeated GW’s troops (between 1790-91)
- Blue Jacket (Shawnee Chief) was defeated in August 1794 by Mad Anthony Wayne in The Battle of Fallen Timbers
- RESULT: More than 90 leading chiefs were forced to sign the TREATY OF GREENVILLE
- Gave US settlers the entire southern 1/2 of present-day OHIO
Pinckney’s Treaty (1795)
Thomas Pinckney negotiated for the US; Spain signed accepting
- The American version of the FL boundary line
- Americans’ right to navigate freely on the Mississippi River
- Granted Americans the right of deposit at New Orleans
Neutrality Proclamation (1793)
A statement issued by PRESIDENT George Washington warning Americans NOT to favor either side in the war between FRANCE + GREAT BRITAIN
- remain neutral abroad
- maintain good national credit
- be UNIFIED at “home”
Whiskey Rebellion (1794)
- A rebellion by western PA farmers
- Cause: protesting a new whiskey tax (which would hurt farmers financially)
- Put down by 12,500 militia troops organized by George Washington
- Led by Henry Lee + Alexander Hamilton
Hamilton (Federalists)
- Federal government would pay all debts (domestic + foreign) for investors
- Federal government would assume state debts from Revolution
- Place tariff on imports + excise tax on whiskey
- Tariffs help US business + excise taxes provide $$$ for government
- National Bank controlled + supported economy (businesses)
- Agreed to locate nation’s capital in South
Jefferson (Democrat-Republican Party)
- If government paid domestic debts many felt it would only benefit the wealthy speculators
- Many Southern states had already paid off most of their own debts
- Tariffs increased their cost for the poor + only helped the wealthy
- Excise tax on whiskey hurt farmers in the west
- National bank went against strict construction
- A stable currency hurt the farmer who benefited from “cheap money” when paying back loans
