New_Republic_Terms - The New Republic 1. Judiciary Act of...

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The New Republic 1. Judiciary Act of 1789 – congress provided for a supreme court of 6 members, w/ a chief justice and 5 associated justices; 13 district courts w/ 1 judge apiece; and 3 circuit courts of appeal, each consisting of one of the district judges sitting w/ 2 of the supreme court justices. Congress also gave the Supreme Court the power to make the final decision in cases involving state laws. 2. Washington's Cabinet: positions and ideas – secretary of treasury Alexander Hamilton; secretary of war George Henry Knox; Attorney General Edmund Randolph; secretary of state Thomas Jefferson 3. Alexander Hamilton – secretary of treasury; federalist leader; exerted more influence on domestic + foreign policy than one else; most aristocratic in personal taste + political philosophy; proposed that the gov take responsibility for existing public debt; proposed debt assumption; wanted to create a large permanent national debt w/ new bonds being issued as old ones where paid off 4. Thomas Jefferson – secretary of state; one of the Republican Party leaders; envisioned decentralized society dominated by small property owners engaged in agricultural activities 5. Edmund Randolph – attorney general; succeeded TJ as secretary of state 6. Henry Knox – Secretary of war 7. Federalists/Federalist party – strong national gov; America required a strong, national gov; countries mission was to become a genuine nation-state w/ centralized authority, complex commercial economy, proud standing world affairs; leader Alexander Hamilton 8. debt funding – the gov would call upon the wealthy; would exchange uniform interest-bearing bonds, payable at definite dates 9. debt assumption – the gov would take over the debts the states accumulated during the revolution; would encourage state and bondholders to look to the central gov for eventual payment 10. National Bank - a large permanent national debt w/ new bonds being issued as old ones where paid off; proposed by Hamilton; would help fill the void that the absence of a well-developed banking system has created; would provide loans and currency to businesses; give gov a safe place to deposit funds; help collect taxes 11. excise tax – paid by the distillers of alcoholic liquors; tariff on imports 12. Report on Manufactures – written by Hamilton; grand scheme of stimulating growth of industry in US; advantageous to the nation of a healthy manufacturing base 13. Republican party/objections to Federalists – modest central gov; shouldn’t be highly commercial or urban; should remain rural and agrarian; leave power in the hands of the people; leaders James Madison + Thomas Jefferson; believed the federalists where doing everything the corrupt British gov was; were interstate; 14. Bank of the United States 15. "first party system" – neither rep or fed were willing to admit that they were parties; neither approved the right for the other to exist 16. agrarian republic – TJ’s philosophy in which most of the citizens would be sturdy, independent farmer-
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New_Republic_Terms - The New Republic 1. Judiciary Act of...

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