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Hamilton v Jefferson

Hamilton v Jefferson. The Creation of Political Parties. Washington elected President. Washington was unanimously elected as 1 st President of the US (only time ever) Inaugurated April 30, 1789 in NYC (Capitol of the US) John Adams was his VP (VP was runner up in elections)

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Hamilton v Jefferson

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  1. Hamilton v Jefferson The Creation of Political Parties

  2. Washington elected President • Washington was unanimously elected as 1st President of the US (only time ever) • Inaugurated April 30, 1789 in NYC (Capitol of the US) • John Adams was his VP (VP was runner up in elections) • Washington knew his every move would set a “precedent” for the presidency

  3. Washington’s new gov’t • Presidential Cabinet • What would he be called • Article 1 Section 9.8 Titles of Nobility • No title of Nobility shall be granted by the US • Mr. President • The Founders left matters up to Congress • Federal Judiciary Act of 1789 • Created the Supreme Court • Washington appointed John Jay 1st Supreme Court Justice

  4. Washington’s new gov’t cont. • Washington's Cabinet- advisors to the President • Secretary of War- Henry Knox (War hero along side of GW) • Secretary of State- Thomas Jefferson (France) • Secretary of Treasury- Alexander Hamilton • Attorney General- Edmund Randolph

  5. The Nation’s Finances • War Debts • US borrowed millions from Spain, France and Netherlands during American Revolution • Owed Private Citizens • Government issued bonds- certificates that promise payment plus interest • Why was it important t pay of debt? • Win respect of both foreign nations and own citizens • Shows that the US is responsible with money • If they paid debt, other countries would then do business with the US

  6. Hamilton’s Proposal • 3 Step plan to improve the nations finances to strengthen the national government: • 1. Pay off all war debt • 2. Raise government revenues • 3. Create a national bank • Also wanted the national government to pay off the states war debts • Hamilton asked Jefferson to help to gain Southern support • In return the capital was moved to Virginia • Present Day Washington DC

  7. Hamilton’s Views • Creating a strong national government • Favored tariffs- a tax on imports • Purpose • Raise money for the government • Encourage growth of national business • Favored the National Bank • A safe place for Gov’t to place its money • Could make loans to business and government • Issue a common currency (paper money)

  8. Hamilton’s opponents • Against the National Bank • Argued that the bank would encourage an unhealthy relationship between the gov’t and wealthy business interests • Argued that since the Constitution does not give powers to create a bank, they can’t do it (Strict Interpretation) • Hamilton used the Elastic Clause • Congress has the authority to do whatever is “necessary and proper” to carry out its specific duties, such as regulation commerce

  9. Political Parties Emerge

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