hamilton vs. jefferson. overview on their beliefs… hamilton, being from the north, backed...
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Hamilton vs. Jefferson
Overview on their beliefs…• Hamilton, being from the
North , backed manufacturing, higher tariffs and business
• Hamilton wanted a strong central government
• Hamilton did not want people to have
much power because he had little faith in the average person
• Jefferson, being from the South , backed farming and lower tariffs
• Jefferson wanted strong powers for the states
• Jefferson believed that the people had the right to rule the country
Hamilton’s Economic Beliefs: Believed in higher tariffs , which would raise the price of foreign products
Jefferson’s Economic Beliefs: Jefferson worried about depending too much on business and believed
that farmers were independent voters
Hamilton wanted to start a national bank where the government could safely deposit its
money; thought the government should also build a national mint (a place to make coins) so
that America could start printing its own money
Jefferson thought Hamilton’s plans for a national bank gave too much power to the federal government
Hamilton responded to Jefferson’s opposition by quoting the elastic clause , which states that
Congress can “make all laws which shall be necessary and proper ” to govern the nation
Hamilton and Jefferson’s Interpretations of the Constitution
• Hamilton believed in a loose construction of the U.S. Constitution (federal government can take reasonable actions that the Constitution does not specially forbid)
• Declared the elastic clause allowed for the creation of a national bank
• Jefferson believed in a strict construction of the U.S. Constitution (only do what the Constitution says – no reading between the lines)
• Thought the elastic clause should only be used in special cases
President Washington and Congress agreed with Hamilton ; Bank of the United States – country’s
1st national bank (1791)
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