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The Formation of a National Governme10

The Formation of a National Governme10 - credit of the...

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The Formation of a National Government Leaders crafted constitutional, legal basis for young nation There were many who wished to repudiate the Confederation’s national debt or pay only  part of it. Hamilton insisted upon full payment and also upon a plan by which the federal  government took over the unpaid debts of the states incurred during the Revolution.  He  also secured congressional legislation for a Bank of the United States.  Modeled after  the Bank of England, it acted as the nation’s central financial institution and operated  branches in different parts of the country. Hamilton sponsored a national mint, and  argued in favor of tariffs, saying that temporary protection of new firms could help foster  the development of  competitive national industries. These measures – placing the 
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Unformatted text preview: credit of the federal government on a firm foundation and giving it all the revenues it needed – encouraged commerce and industry, and created a solid phalanx of interests firmly behind the national government. The Republicans, led by Thomas Jefferson, spoke primarily for agricultural interests and values. They distrusted bankers, cared little for commerce and manufacturing, and believed that freedom and democracy flourished best in a rural society composed of self-sufficient farmers. They felt little need for a strong central government; in fact, they tended to see it as a potential source of oppression. Thus they favored states’ rights. They were strongest in the South....
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  • Fall '10
  • strong central government, central financial institution, United States.   Modeled, competitive national industries.

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