The Colonial Era

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Land of Liberty or Opportunity Review Project Colonial Era: 1492-1760s Economic Opportunities The innovative economic platform of America during the 1500s was the first global system in history. European increase in commerce and population caused countries such as Portugal, Spain, France, and Great Britain to seek wealth overseas. Opportune Europeans had the ability to monetarily prosper from Triangular Trade and the Columbian Exchange. In the Triangular Trade system raw materials were furnished in America, the labor force came from Africa, and the mother country shipped the manufactured goods around the globe. America had many commodities such as fur, lumber, tobacco, and sugar. The first significant economic force of the Colonial…show more content…
First, to allow Congress to regulate interstate trade and commerce. Also, to allow Congress the ability to tax people. America needed to find a medium between a strong national government and a democracy for the people. Hamilton favored the British system. Madison favored republican values in which interests would check one another. The Virginia Plan divided powers into three sections: legislative, executive, and judicial with a bicameral house. In addition this plan would have the power to veto state laws and call for a strong president. The New Jersey Plan favored the Articles of Confederation in which Congress could regulate commerce, but kept unicameral form, executive committee, and sovereign states. The Great Compromise would be formed in which Senate depended on one vote for each state and Congress was proportional to the amount of people in each state. States could no longer issue their own money and the Compromise supported Federalism. The difference between Federalists such as Hamilton who favored strong national government and Anti Federalists continued. The Federalist argued that state legislatures threatened liberty because there was no checks and balances. The Federal Constitution allowed for a national government, congress’ ability to declare war, and the ⅗ Compromise. Interpretation of the Constitution concerned the political freedom of the country. Hamilton favored a loose interpretation while Jefferson believed in a strict interpretation in which anything that is not permitted is forbidden. The political impact of foreign policy was also up to question. Washington did not want any political ties with other
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