History Notes 1

History Notes 1 - The First Years of the Republic March 6...

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The First Years of the Republic March 6, 2007 1. The New Government. 2. Hamilton’s Financial Plan. 3. Influence of French Revolution. 4. Four Problems West of the Appalachians and the Solutions. 5. The Birth of Political Parties. 6. Alien and Sedition Acts. 7. The Virginia and Kentucky Resolutions. 8. The Election of 1800. 1. The New Government 1790s – New President (Washington). Washington sets up 4 Cabinet Offices: - Secretary of State – Thomas Jefferson. - Secretary of War – Henry Knox - Secretary of Treasury – Alexander Hamilton - Attorney General - John Randall Why were these cabinets important in the order they are created? Because of Presidential Succession. 2. Hamilton’s Financial Plan - Hard time paying off debts because the colonies didn’t want to pay taxes after the war. - Hamilton is concerned about the debt because: o The colonies were extremely vulnerable. o They owed money to foreign banks and governments. o Owe Americans (war bonds). o He is concerned because we are a new nation trying to establish ourselves. o Wants to borrow money to get people into coming to US. Hamilton’s Plan: - Two Pronged Plan o Federal debt. (War Bonds) o State Debt.
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- War Bonds – Government sells them to people and then they get paid back with interest. Does not involve selling bonds but paying back the bonds sold during the war. o Pay off in full to the current holder. Problem is that the people who bought the original bond…they have been sold many two or three times. - State Debt – Some colonies have more debt than others. Plan is to have the Federal Government pay off state debt in full. o Reason? Hamilton’s goal is for all the states to start with a clean slate. Doesn’t want anyone to fall behind in the growth of the economy. o Controversial? Some states are getting more money than others. 3. Influence of French Revolution Took place in 1789. The American Reaction?
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History Notes 1 - The First Years of the Republic March 6...

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