GOV oct 8 - The new constitution Ratification o 9 out of 13...

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The new constitution Ratification o 9 out of 13 states required o Federalists (wanted to revise) vs. Antifederalists Federalists favored ratification. Antifederalists opposed. Two reasons: - Some saw the new national government as a threat to liberty and to power of the states. - Some opposed because the new constitution did not yet include a bill of rights. July 1788 New York is 10 th state. North Carolina and Rhode Island in 1789 and 1790 Constitutional basics o Seven articles, Three major, four minor Article 1: Legislative branch is set up, what power they have Article 2: executive Article 3: judicial Article 4: relationship between the states, interstate relation Article 5: amendment process Article 6: miscellaneous provisions, “supreme law of land” Article 7: ratification process The new nation o Congress convened in March 1789 o Early actions Tariff – 5% tax on certain imported goods. Bill of rights. Alexander Hamilton’s program o The problem: Debt $11 million owed by national government foreign governments. $27 million owed by national government to merchants, former soldiers, holders of revolutionary bonds. $25 million owed by states. Hamilton’s solution o First report on Public Credit, Jan 1790 o Congress should: Assume state debts Fund national debt at face value. o Hamilton’s goals: Increase national power over states. Give wealthy a stake in government’s survival Opposition to Hamilton’s plan o Funding national debt rewards speculators. o Assumption of state debts: Make central gov too powerful Is unfair to debt-free states o Compromise: location of national capital National bank o Proposed in Hamilton’s Second Report on Public Credit
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GOV oct 8 - The new constitution Ratification o 9 out of 13...

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