Chapter 10.2 Alexander Hamilton vs. Thomas Jefferson - PowerPoint PPT Presentation

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Chapter 10.2 Alexander Hamilton vs. Thomas Jefferson


Chapter 10.2 Alexander Hamilton vs. Thomas Jefferson Thomas Jefferson trusted the people to fix their own problems Hamilton wanted a government strong enough to ... – PowerPoint PPT presentation

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Title: Chapter 10.2 Alexander Hamilton vs. Thomas Jefferson

Chapter 10.2 Alexander Hamilton vs. Thomas
  • Thomas Jefferson trusted the people to fix their
    own problems
  • Hamilton wanted a government strong enough to fix
    Americas problems

Do these people look happy or mad?
Now that President Washington is in office
  • Its time to fix the economy
  • Whats the problem?
  • Our government had a national debt of 81.5
    million dollars!
  • Amount of owed by our country to other people
  • Foreign countries
  • Citizens we borrowed money from
  • What happens if we dont pay these people back?

Debate over settling the debt
  • Thomas Jefferson
  • Alexander Hamilton
  • Wanted to pay back all bonds sold to citizens
    over time!
  • Bonds certificates purchased that can be turned
    in for more money in the future
  • Why did Hamilton want to do this?
  • Government gains credibility with the people
  • Ok with Hamiltons ideas, but there is a problem
  • Speculators have bought bonds from citizens for
    less than they are worth!
  • Now the government is going to buy them from the
    speculators for full price?
  • That cheats the original owner out of money!
  • Who wins?
  • Hamilton!
  • 1790 Government starts buying bonds back!

Debate over Paying off debt owed by States from
the American Revolution
  • Alexander Hamilton
  • Thomas Jefferson
  • Argued that government should pay states debt off
  • Why?
  • We all fought for freedom.
  • So, our federal government should pay the bill.
  • So who wins?
  • Both.sort of.
  • Felt each state should pay back their part of the
  • Why?
  • Some states owed a lot!
  • Massachusetts
  • New York
  • Some did not owe much at all
  • Virginia
  • North Carolina

They both get something in the end.
  • Hamilton
  • Jefferson
  • Federal government pays off the states debt.
  • In exchange for.
  • The nations capital moves from the North to a
    more Central location.
  • The birth of Washington, D.C.
  • Will be built as the new nations capital!

New York to Washington DC
Washington, D.C. 1800
Washington 1850
Washington DC today
Debate over Role of Government
  • Hamilton
  • Jefferson
  • Had little faith in the average citizen
  • Said they could not be trusted to do the right
  • Why?
  • Because the average American does not take
    education seriously
  • They take politics even less seriously
  • So, you need a large government
  • Job protect the liberties of all citizens
  • Had a lot of faith in the average citizen
  • Said they should govern themselves
  • Said they would educate themselves and do what is
  • So, government needs to be small
  • Job stay out of the way

Debate over how the Economy should grow
  • Hamilton
  • Jefferson
  • Government should give stimulus money to
    American entrepreneurs
  • Why?
  • So they could start their own factories and
  • Hire people
  • Make products here in USA
  • Government should pass protective tariffs
  • Tax on goods from other countries
  • Government should stay out of the economies way
  • Why?
  • America is made up of farmers!
  • They know how to do it themselves!
  • Dont need any help!
  • Tariffs should remain low
  • Why?
  • Keep price of goods lower.
  • Helps citizens be able to afford them

Debate over a national bank
  • Hamilton
  • Jefferson
  • Hated the idea of a national bank
  • Why?
  • Some states are richer than others
  • They would lose this power if the federal
    government owned all of the money
  • What is the big deal?
  • The Constitution does not give the government the
    right to make a bank anyways.
  • Or does it?
  • Wanted to start a national bank.
  • Why?
  • So that the government can make their own money
  • No more state money
  • What is the big deal?
  • Federal government would own all of the money in
  • Not each individual state

What does the Constitution say?
  • Article I, Section 8
  • Congress has the right to make all laws that are
    necessary and proper
  • Hamilton (loose)
  • Says a bank is necessary for future growth as a
  • Jefferson (strict)
  • Says a bank is convenient
  • Not necessary

Who wins?
  • Washington agrees with Hamiltonagain.
  • Bank of the United States
  • Created in 1791
  • For 20 years
  • If it works we will keep it longer
  • If not, we get rid of it.

  • While America is trying to build itself into a
    great country.
  • A great country is trying to destroy itself.
  • 1789
  • France decides to have their own Revolution
  • Replace their monarch with a democracy like

Review Questions
  • What is the national debt?
  • What are bonds?
  • What was Hamiltons idea to fix the economy?
  • What was Jeffersons idea for the role of
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