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lec.fed - The Federalist Era(1789-1800 National Bank of the...

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The Federalist Era (1789-1800) National Bank of the U.S. I. Hamiltonians vs. Jeffersonians A. Hamilton's views--Man is irrational, corrupt, and guided by base instincts. 1) Sovereignty must rest with a strong central government insensitive to the popular will 2) Government's function is maintain order in a potentially chaotic society. It needs to be remote and secure from the people's emotional uprisings. B. Jefferson's views--man is rational, capable of self-improvement. 1) Government exists to protect man's natural rights to life, liberty, and happiness. 2) The greatest threat to man's freedom is tyrannical government. It needs to be limited in its powers and completely responsive to the needs and desires of the people. 3) State governments should have greater power because they are less likely to be despotic. II. Hamilton's Financial Plan A. Protective tariff to stimulate industry B. Willingness to assume debts of states C. Willingness to assume Confederation's debts D. Establishment of a national bank. Purposes:
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