Lecture 12 Securing the Republic

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University of Texas, Rio Grande Valley *

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1301

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Political Science

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Oct 30, 2023

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pptx

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Lecture 12: Securing the Republic; 1791- 1815 Chapter 8 (Foner, DuVal, and McGirr)
Lecture Preview • Politics in an Age of Passion • The Adams Presidency • Jefferson in Power • The “Second War of Independence”
Politics in an Age of Passion Focus Question: What issues made the politics of the 1790s so divisive?
Domestic Policy Under Washington and Hamilton. • George Washington was elected the 1 st president of the USA and John Adams became Vice President. • Other important officials in his administration included Thomas Jefferson as Secretary of State and Alexander Hamilton as Secretary of the Treasury.
Alexander Hamilton. • Alexander Hamilton of New York had been an aide to General Washington during the Revolutionary War. • The US was deep in debt. In addition, each of the states also had a lot of debt. • Debt threatened the future of the new nation and… • As Secretary of the Treasury, Hamilton was responsible for putting the country’s finances in order.
Hamilton’s Five Part Program 1. The federal government take responsibility for debt from the Revolutionary War and for debts of the states. 2. National debt – issue interest bearing bonds to the government’s creditors (those it owed money). 3. Hamilton also proposed a national bank to be called the Bank of the United States (BUS). It would be a private corporation, it would hold public fuds, and issue banknotes that would serve as currency. 4. To raise revenue (money) Hamilton proposed a tax on whiskey products. 5. In a Report on Manufactures: he proposed a tariff to encourage the development of American manufacturing
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