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Launching a New Republic 1789-1800

Launching a New Republic 1789-1800. Washington’s Presidency Hamilton and the Banks. Goals. 1. To explain how the nation’s court system was established. 2. To describe the President’s first cabinet 3. To analyze Hamilton’s financial plans.

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Launching a New Republic 1789-1800

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  1. Launching a New Republic1789-1800 Washington’s PresidencyHamilton and the Banks

  2. Goals 1. To explain how the nation’s court system was established. 2. To describe the President’s first cabinet 3. To analyze Hamilton’s financial plans

  3. George Washington is inaugurated in New York City the first capital on April 30 1789 • Washington was unanimously chosen by the electoral College • Washington’s vice president was John Adams • Washington knows every action he takes as president will be a precedent set for others • Congress agrees to call Washington “Mr. President” Washington Takes Office

  4. Needs to fill in the blanks that the Constitution left What are they?

  5. Congress passes the Federal Judiciary Act 1789 • •This act gave a supreme court six members • Chief Justice: John Jay • 5 associate justices • It also provides for lower federal courts • District courts • Circuit courts Creating the Judiciary

  6. Congress creates three departments to help the president: 1. War Department - oversees the nation’s defense, Secretary of War Henry Knox 2. State Department – oversees diplomatic relations with other nations, Secretary of State Thomas Jefferson 3. Treasury department – manages the U. S. finances, Secretary of Treasury Alexander Hamilton Washington’s Cabinet

  7. What do you think is the biggest problem the new republic faces?

  8. By 1789 the US had a huge national debt of $52 million • The US must pay back debt to gain the respect of other • countries • Alexander Hamilton’s financial plan shows his belief in: • Strong central government • Government encouraging business, industry • Pay debt to nation’s wealthiest citizens, gain their support for government Hamilton’s Financial Plan

  9. Bonds-the government borrows from its private citizens and gives them a paper promising to repay the loan at a certain time with interest • Speculator-person who bought bonds at a low price from people who thought the government would not pay • Alexander Hamilton proposes a three-step financial plan to Congress • Pay off all war debt • Buy up all the old national bonds issued before 1789 • Buy up all the state bonds (together this totals $80 million) The Finacial Plan Details

  10. Raise government revenues • Impose tariffs (tax) on imports • Raises money fo US government • Encourage growth ofUSindustry • Encourage people to buy American goods Revenue Element

  11. Create a national bank • Safe for government investments • Bank makes loans to businesses • Bank issue money A National Bank

  12. Who will oppose this plan?

  13. Led by James Madison & Thomas Jefferson • Many Southern states had paid off their debt and did not want to pay off northern states debts also • Southerners thought that northern speculators would get rich by buying up bonds • Southern states did not like a tariff because they had few factories and this meant they would pay higher prices for goods. Opposition

  14. If the Southerners voted for Hamilton’s plan he would push for a national capital in the South • Washington DC becomes the Capitol of the United States The Compromise

  15. Crash Course US History http://www.youtube.com/watch?v=r161cLYzuDI&list=PL8dPuuaLjXtMwmepBjTSG593eG7ObzO7s&index=9

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