Federalists and Democratic-Republicans
Hamilton & Jefferson: Rivals Born in West Indies, works his way up in the govt. Very gifted student Wealthy farming family, becomes a tobacco farmer Wrote Declaration of Independence Better w/ writing than speaking
Funding the Public Debt D-R Feds Nervous about the national govt. assuming debt with assumption and too much govt spending Repeal taxes for now— if we have a war, we will have a fresh start to come up w/ a tax plan Funding the Public Debt Assumption National government takes on the debt the states gathered during the Revolutionary War Want to pay off debts quickly Increase taxes (imports; excise taxes)
Relations with France & GB Feds D-R Relations with France & GB Wants us to be like Great Britain eventually—use them as a model Shies away from France once their Revolution turns violent/bloody Proposed import duties designed to make us dependent on GB Support French -Felt sense of loyalty during their revolution—they were our allies during our Revolutionary War Did not approve of import duties meant to make US dependent on GB
National Bank Loose interpretation of Const. Feds D-R National Bank Strict interpretation of Constitution—it DOES NOT say we can have a bank in Const. Const. does say power not specified in Const. belongs to states—we can have state run banks Loose interpretation of Const. Money is property of the US; Congress is authorized to regulate US property Help w/ collecting taxes; give loans to business people Bank passes —capital is moved to DC in exchange
Manufacturing & Agriculture D-R Feds Manufacturing & Agriculture Believe in agricultural economy Want farmers and the common people to be involved in the govt Opposed measures designed to encourage growth of business (bank) Wants the US economy to move away from agriculture Focus more on trading, businesses and manufacturing Wants more educated and wealthy people in charge of govt
Feds D-R Jay’s Treaty: Agreement w/ US & GB. GB promises to leave NW forts and stop impressing US boats Strategy to avoid war w/ GB Strengthened economic ties w/ GB Felt the treaty disregards previous agreements w/ France Tilts US closer to GB, which they do not like
Alien and Sedition Acts D-R Feds Fought against them - believed they were unconstitutional (freedom of press, speech) Believed Feds were trying to ruin the D-R party VA and KY Resolutions: statements written by D-R leaders in VA and KY declaring the Alien/Sedition Acts unconstitutional and stating they were therefore null (would not follow) Alien and Sedition Acts Wrote, passed, and enforced Acts Put newspaper editors on trial for statements they made