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14 Cards in this Set

  • Front
  • Back
How did Hamilton hope to diversify and strengthen the U.S. economy?
to make good in the U.S. instead of buying from other contries.
tax on imports
Whiskey Rebellion
farmers could not sell whiskey at a profit; farmersrefued to pay taxes threatened to force local tax officials to give up their offices; Washington gathered an army of 13000 troops; when the rebels heard that the troops were marching against them, they scattered
proective tariff
would protect American industry from foreign competiton by taxing foreign products
How did Alexander Hamilton propose the national government handle the national and state debts?
fund the national debt (warbonds)at face value to the active holder; assume state debts as a national obligation
What was the biggest problem facing the country?
a money problem; debt
What happened to the bonds issued to American citizens by the American government during the Revolutionary War?
many people dis believed that war bonds would get paid back and sold their notes for only a few dollars
Why did people oppoe Alexander Hamilton's plan to pay off the bonds?
the southern states had accumulated much less debt than the north
to establish or start
10th Amendment
reserves to th states and the people powers not given to the government
Washington D.C.
nation's capital; to get the southern states to adopt his idea he would favor a southern location for the capital of the U.S.
excise tax
a tax only for goods made in the home country (U.S.A)
What was the major issue concerning the chartering of a national bank? Explain the arguments botth for an against the national bank.
whether or not the bank was constitutional; Thomas Jefferson and James Madison argued that the Constitution had not given the government the power to create a national bank; Alexander Hamilton argued that Article 1 section 8 of the Constitution gave Congres the power to create a bank; Congress was give the power to collect taxes and control currency
people who risk $ in order to make a larger profit