{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

AMH2010 Test 2 (1)

AMH2010 Test 2 (1) - Early Political Parties 1790-1800...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Early Political Parties, 1790-1800 George Washington o 1788-1796 o First President of the United States o Political parties began to emerge in America against the founding fathers’ wishes o Cabinet members Thomas Jefferson Secretary of State Alexander Hamilton Secretary of Treasury o Only president to receive 100% of all of the electoral votes o Vice President became whoever would lose the presidency o No one ran against, John Adams became Vice President o No one knew how to act in the seat of presidency o No Washington D.C. until after his death, he was inaugurated at Wall Street in New York City o Conducted all of his official business in New York and Philadelphia o Chose men he could rely on for his Cabinet members Alexander Hamilton o One of the younger founding fathers o Hamilton believed that a commoner could not run a government o Knew how to manipulate Washington o Made the Treasury the most powerful Cabinet position o Hamilton’s people were called Federalists in the competition against Jefferson o Believed the federal government should have power over everything else o Does everything in his power to strengthen the federal government o Tariff Act of 1789 Believed debt was going to cripple the country No one is going to take the United States seriously as long as the country is in debt First step in showing that the United States has really broken away from Great Britain Could show other countries that the United States was under a stable government and had power Put an import tax on anything coming into the United States Encouraged United States industry to have a market for their goods and to also employ people No income tax for government until 1910s Encourage and strengthen a central government o Report on Public Credit Showed just how bad the United States’ debt was Over $60 million
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
$12 million to foreign countries Over $50 million to individual private investors Hamilton wanted to consolidate the debt between the states and the central government and pay them all off at 4% interest to all parties This put the states in debt to the federal government Break between Hamilton and Jefferson o Creation of a National Bank o Hamilton wanted a bank based on the bank of England, a bank that can issue money o Need a single currency for the United States o
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern