LaunchingaNewNation

LaunchingaNewNation - Launching a New Nation Now that the...

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Unformatted text preview: Launching a New Nation Now that the Constitution and Bill of Rights were in place, it was up to the nations leaders to pick people to run the country. Washington was the first and he took office in April of 1789. He traveled to New York City (the nations capital) and was greeted by huge crowds along the way. He was anxious about setting up the executive branch and being the first president. Executive Branch 3 departments were set up inside the Executive branch. This group became Washington's Cabinet. 1) Treasury in charge of money and country's economic affairs (Alexander Hamilton) 2) State manage relations with foreign nations (Thomas Jefferson) 3) War in charge of army (Henry Knox) A Nation in Debt Because of the Revolution, America owed 52 million dollars in bonds. Taxes only paid for enough money to operate government costs. Hamilton composed a plan to get nation out of debt Part of plan called for a National Bank, high tariffs and agreeing to pay off the bond debt. Congress didn't approve tariffs. National Bank Wanted a safe place to deposit government funds and it would also make the nation's currency. Jefferson argued the bank could not be created b/c it was unconstitutional. Not a power that was given. Strict interpretation Hamilton cited an article in the Constitution that said Congress could make all laws that were "necessary and proper". Loose interpretation. Congress eventually passed the bank in 1791. ...
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