Question: Describe Alexander Hamilton’s role and accomplishments in the new constitutional government. How did the government divide into the Federalists and Republican parties?
Congress' first real act - two
tariffs on foreign vessels
and foreign imports to fix
debt issue and encourage
domestic production
first major difference of
opinion was on how to fix
the debt - fell on Alexander
Hamilton's shoulders
felt that people were
motivated by self-interest
and would do well with a
financial stake in the
government
plan: issue bonds payable
at a future date, establish
a National Bank, establish
another alcohol tax and
import tax
many farmers hated the
National Bank and alcohol
tax and felt it favored
industry - the Whiskey
Rebellion was squashed in
1794 by Hamilton himself
though George Washington
supported Hamilton, he had made
enemies out of Thomas Jefferson
and James Madison, who led a
group in Congress that opposed
him