Issue 7: Was the Constitution of the United States Written to Protect the Economic Interests of the Upper Classes? According to radical historian Howard Zinn, the Founding Fathers were an elite group of northern money interests and southern slaveholders who used Shay’s Rebellion in Massachusetts as a pretext to create a strong central government, which protected the property rights of the rich to the exclusion of slaves, Indians, and non-property-holding whites. Zinn uses an excerpt from historian George Bancroft to explain his reasoning. Bancroft basically said that the Constitution left out individuals and favored certain classes. Zinn also uses an excerpt from historian Charles Beard to explain his reasoning.
McDonough. Through his article he feels that central bank independence is so very important to a democracy. According to McDonough, the main opponents of the first central bank were the farmers or the agrarians (2). These people dominated the population and their spokesperson was Thomas Jefferson. These people challenged the federal bank’s constitutionality (2).
The Second Bank of the United States was created after the War of 1812 and was seen by many as the reason for the panic of 1819. Willentz states that “Jackson perceived the bank, by its very design, undermined popular sovereignty and majority rule.”(361). Biddle was the president of this bank and wanted the 2nd charter to be linked to the federal government but at the same time could use the money for its own purposes. Biddle’s presidency of the bank again highlights those whom it does not benefit from its concentrated control in the elite such as farmers and workers. At the start of his second term of presidency, Jackson vetoed the charter of the second bank.
However, when the stock market crashed in 1929, President Hoover was faced with the challenges of helping the United States recover from a severe economic depression. The Great Depression served as a turning point in Hoover’s presidency because his policies are what made him infamous. Hoover was a believer that the federal government should not provide direct relief to citizens in order to avoid people relying of government money to get by. As a result, Hoover stated in a statement to the press that private, state and local government are responsible for providing relief to the public (Doc C). Hoover’s assertions accurately portray the conservative ideals of the federal government adopting a laissez faire policy towards the economy.
Woodrow Wilson’s Development in American Business Interest Woodrow Wilson described him self as a conservative, yet did not believe that “government must keep its hands off the workings of the economy” instead he felt government should “legislate to protect workers welfare and to regulate corporations”(9). While at Princeton University, Wilson studied history and political science and envisioned detailed solutions to national problems. While president, he now had the power to solve the issues, which he felt needed reform. During this time the United States was changing into an economic super power, monopolies and trusts were controlling the economy and exploiting workers; there was an obvious need for reform. One of Wilson’s first concerns was to reduce tariffs.
Banks It is well known that Hamilton and Jefferson disagreed strongly about the national bank. Hamilton was the architect of the First Bank of the United States, believing it essential to the financing of the federal government and to the establishment of a robust domestic banking system. As such, Hamilton is considered a pioneer of central banking and a forebearer of the modern Federal Reserve. Jefferson believed the bank would put too much power over the government in the hands of the bank's owners. But the issue went deeper than that.
I work two jobs and maintain my financial responsibility. My big payback is the government’s bad decision indirectly affecting my income. A more fair use of the $700 billion plan would have been to let those who took out loans known to be too much and the institutions that created the loan swim or sink. Then disperse the $700 billion to consumers like me who maintain our responsibility. I could certainly use a portion of the money and would most certainly spend it frivolously.
The leader I chose is President and businessman Franklin Roosevelt C. The purpose of this paper is to explain why I chose Franklin Roosevelt as my inspiration and how he relates to my success D. Main ideas include his success in the Great Depression and his influences on society during his time. II. Accounting A. I chose accounting because I was fond of how intricate math as a subject was and the discipline it took to stay organized to be successful. B. My expected graduation is within two years III.
Roosevelt's foreign policy was the "Big Stick Policy." Speak softly and carry a big stick; he used the American Navy as his stick. Taft's policy was "Dollar Diplomacy." This was a method of maintaining balance by having the United States invest business in other countries, so if one were to disrupt a country that had invested in, the US would supposedly step in. Finally, Wilson's foreign policy was the "Moral Diplomacy" where he tried to spread democracy to the world.
The IMF loaned the amount of money on various conditions to the Russian Government. The deal also included the pegging of the US Dollar to the Rubles. After various failed attempts at confirming to the conditions, the IMF decided to stop the funding provided and the Russian Economy and Currency were left in shambles, despite the government’s efforts to rescue it. Analysis Q1. What were the causes of the surge of inflation in Russia during the 1990’s?