B. Alexander Hamilton Hamilton’s zeal had attracted the favor of Washington, who appointed him Secretary of the Treasury. Nationalism and cynicism shaped Hamilton’s policies. C. National and State Debts Hamilton wanted the government to repay its debt at full value and to assume the war debts of the states. D. Hamilton’s Financial Plan Hamilton hoped to extend the authority of the national government and gain the support of securities holders.
This was called the Assumption Plan. In order for Hamilton's ideas to work, he had to make the wealthy tied to the federal government, so that they would believe in his system. They would become more likely to help and give more money if they were tied to the system itself. Jefferson and his supporters opposed this plan because of their belief in the states having a greater power than the federal government, and this gave the federal government too much power. However, when Hamilton agreed to establish the nation's capital in the South along the Potomac River, Jefferson and his supporters agreed to the idea.
Alexander Hamilton is known to be one of “The Founding Fathers” of the United States. Hamilton was also the first appointed into cabinet as Secretary of Treasury, under the first President of the United States, George Washington. During Washington’s Presidential term, Hamilton became the author of the economic policies including a bill which took over the debt of states created by The Revolutionary War and implementing a National Bank. Many believe that Hamilton was a man of vision, but it was through his work that made him a man of economic genius. Alexander Hamilton was born out of wedlock on the West Indian Island of Nevis in January of 1755.
Alexander Hamilton stepped up in this crisis and put together a financial plan. His idea was to have the federal government pay for all national debt and assume the debt that each individual state had built up as well. In this idea, the national government of the United Sates owed approximately $75 million. Hamilton saw this to be outrageous but gained the partnership with Thomas Jefferson to pass the financial plan through congress. After a lot of debating, Hamilton’s plan was carried out and passed in 1790.
This power caused principles in Jacksonian Democracy including Manifest Destiny. The idea of Manifest Destiny basically is the belief that America has the power to expand its borders to the western land and all of America from the Pacific Ocean to the Atlantic Ocean. This is destiny that was given to America from God supposedly and Jacksonian Democracy completely defends it. Also, Jackson believed in a limited federal government even though he wasn’t satisfied on the idea of a strong state government. Jacksonian’s agree with a “hands-on” approach to the economy meaning that the government to strong control over the countries economy.
According to the Federalists, if the Constitution had parts to it that didn't work, it could be amended. This doesn't seem right, because if it was written by a group of Federalists, then clearly amending it will favor their views. At the Philadelphia Convention, the only type of people who could afford to make the trip was wealthy Americans, and the wealthy generally shared the views of Federalists. Federalists upheld that the Constitution provided a strong central government by the people; however, this was only partly true. The people of the United
It organized the U.S. Supreme Court and established lower and federal courts throughout the country. B. Bill of Rights (1791)—the first ten amendments of the Constitution were added. C. Mint Act (1792)—regulated coinage and established the national bank in the United States. VII.
Major Economic Issues A. Tax on Whiskey (1791)-
Explain Congress’ ‘power of the purse’. (10 marks) The Power of the Purse is the power granted to Congress to direct the flow of funds requested from Executive officials due to their right to do so granted from the Constitution. This power is granted under Article I Section 9 of the constitution and was granted to avoid ‘executive tyranny’ that was widely seen during the reign of the British. Following the 1930’s and the Roosevelt New Deal, what was intended to be the most prominent branch of government took to the second rudder to be replaced by an executive growing in power and importance. Thus it became ever more essential for Congress to exercise its power of the purse as new programmes were set up for the next 50 years.
With unification complete at least geographically, by 1871, Bismarck's next challenge lay with domestic policy and the running of the new German constitution. In the early 1870s, Bismarck relied on the support of the National Liberals in the Reichstag as they were the largest single party. Bismarck acted to strengthen the newly created state in order to ensure its prosperity, and succeeded in establishing the State bank (Reichsbank) and adopting the gold standard. Bismarck also formed a National Court of Appeal that helped to promote feelings of a united state. With industry and economy booming, one could say that Bismarck was relatively successful during 'foundation time', opposing the suggestion.