Jefferson Vs Hamilton Debate Essay

After the new Federal Constitution went into effect, those supporting it split between Thomas Jefferson and Alexander Hamilton. The ones who chose Hamilton, supported his economic plan. Hamilton’s plan for the nation included consolidating the state's’ debts under the federal government. He issued a report in which he proposed that the Federal government assume and fund all of the debts. He would then pay it by issuing new bonds at an interest rate of 4% payable over 20 years.

The American Revolution happened to be a very expensive war for America. In order to supply for her military, congress found it necessary to accept loans from France. Following the Revolutionary War, America faced a debt of roughly $80 million to both foreign nations and American citizens. This debt damaged the economy by devaluing money issued by the Continental Congress. Wanting to find quick solutions to these timorous problems as quickly as possible, George Washington granted Alexander Hamilton the task of resolving the issues by writing policies regarding America’s interaction with foreign nations and finance management.

After the Revolutionary War, most states went into debt because the finance of the Revolutionary War pushed out the taxes three or four times the level to help wage the war. Most American demanded the relief of high taxes and heavy debt. Alexander Hamilton "instituted a plan to get the brand new nation off on the right foot financially." Hamilton believed in debt because in order to establish credit you must have the ability to borrow in the future. Hamilton also wanted to establish a national bank to unify and stabilize currency called the Bank of the United State.

Alexander Hamilton and Thomas Jefferson were two of the most influential figures in the early years of the United States.(More background info) They both played pivotal roles in shaping the nation, however despite their commitment to American independence, Hamilton and Jefferson had different visions of the future and what they would do to get to their end goal. These differences to their ultimate plans included: How they viewed the people, Their differing political parties, and what they thought the best government was. Their famous feud and conflicting views helped create the mold that would shape the United States to what it is today. Firstly, Alexander Hamilton and Thomas Jefferson had fundamentally different views on the people and what

Thomas Jefferson and Alexander Hamilton were two of President Washington’s closest advisors and they had exceedingly contrasting views on which direction this nation should go. A few of the things Jefferson and Hamilton had differing views on included the central government, the U.S. economy, and the national bank. In fact, these two people and their different factions helped to lead to the dual party system of America. The faction that Hamilton led was called the Federalists, while Jefferson led the Democratic Republicans.

The need for a national bank was very much so necessary. Hamilton also convinced president Washington to sign the bank bill by his lengthy report that stated: “This criterion is the end, to which the measure relates as a mean. If the end be clearly comprehended withan any specified powers, collecting taxes and regulating the currency, and if the measure have an obvious relation to that end, and is not forbidden by any particular provision of the constitution, it may safely be deemed to come with the compass of national authority.”

Taking time to understand the formation of our country takes a lot of time, patience, and understanding as well as being willing to learn all of the different government systems. During this time, the thirteen colonies had a desire to be free from Great Britain due to taxation and other issue’s. In order to become free from Great Britain, the colonies had to sign a document which is known as the Article of Confederation. After the situation with Great Britain was solved, another problem had to be handled. One problem that the colonies had was making decisions with each other.

Jefferson v. Hamilton There are many conflicts in the early years of the American politics. There are two famous political parties during the early years of American Independence, and their ideologies were completely opposite. Thomas Jefferson was the third American President from 1801-1809. Alexander Hamilton was the founder of Federalist party and President Washington elected him as a first secretary of the treasurer.

In the 1790s, there were two men who had different beliefs regarding how the United States should function. The two men were Alexander Hamilton and Thomas Jefferson. Jefferson was the leader of the Republican party and Hamilton was the leader of the Federalist party. The political parties were created by Hamilton and Jefferson based on their differences in opinion on how the country should run. For example, Jefferson believed that the government should be self-governed and all of the power should go to the individual states.

The United States was obligated to pay off soldiers who fought in support of the Revolution and people who issued the government war bonds. In order to resolve this issue, Washington established the first Presidential cabinet, most importantly appointing Alexander Hamilton Secretary of the United States Treasury. First, Hamilton realized it necessary to create a national currency and then a National Bank. In order to accomplish his goal, Hamilton planned to shape financial policies in favor of the wealthy; in return, the wealthy would favor and support the rising government financially and politically. For example, Hamilton intended to pay off war bonds and soldiers by issuing new bonds with high risk, but with very high rewards for those who bought.

After the ratification of the Constitution, a new system of government was introduced, but America was facing major difficulties. The United States was in an enormous amount of debt from the Revolutionary War, and rising political parties were already developing tensions. Political leaders such as Alexander Hamilton and George Washington took measures to shape the orderly growth of the United States Government which followed. Hamilton’s financial plan and Washington’s precedent contributed to the institution of a strong national government that would shape the economic growth of the U.S. During the state of debt, Hamilton recognized America ’s need for an effective financial system.

He successfully argued for the assumption of state debts by the federal government and the establishment of the first national bank – a private, but partially government-owned institution. He firmly established the principles of financial trading. Due to his efforts, the creditworthiness of the United States was restored. Hamilton’s accomplishments as Treasury Secretary were not achieved without a struggle. His congressional opponents tried to exhaust him by demanding detailed reports on the workings of the treasury department with incredibly short delivery dates.

Each one had their own view of how to do this, but it was a main goal of both politicians. Alexander Hamilton was a founding father and leader of the Federalist party. Hamilton wanted America to be just like Great Britain. He believed that in the best interest for the country, the government should be run by elite people with lots of money. Hamilton was The United States Secretary of Treasury, during this time, and proposed many of his reform ideas to Congress.

Thomas Jefferson during the 1790’s-1800’s while working with federalists Alexander Hamilton, his viewpoints were different. During the 1790’s Jefferson was known to be in the democratic-republican party where he progresses an ideal structure of equivalencies between money and weight standards with the American/Spanish currency. Jefferson took charge of the republicans after a conflict created two parties, republican-democratic and the federalist, who empathized with the revolutionary cause in France. While attacking the federalist policies, Jefferson opposed a strong centralized government and granted the rights of states. While Jefferson was in presidency, he cut down on the Army and Navy expenditures, cut the U.S. budget, eliminated the tax

Hamilton wanted to create public credit with a treasury system, a national bank, a mint, and increase manufacturing which would help unify the country. On the other hand, there was Jefferson, who opposed a strong central government. He argued that the “wealthy would gain at the expense of ordinary Americans and that Hamilton’s political economy would corrupt the morality of citizens and undermine the social conditions essential to republican government”(Powerpoint). The country would opt for an approach closer to Hamilton’s views. One of the first acts was the National Banking Act.