George Washington's Precedent's. PT.2
Updated: 1/11/2021
George Washington's Precedent's. PT.2

Storyboard Text

  • Hamilton:I propose that the federal government pays off all the debt, including the debt owed by the states.
  • Jefferson: I don't agree with that because the south has to pay very few debts, and they think this is rewarding North's failure to pay.
  • Does anyone have any ideas on what we are going to do about the war debt?
  • Hamilton: I say that Revenue would be generated by raising tariffs, which should encourage people to buy American-made goods.
  • Jefferson: No, that's a bad idea because the idea his idea does not support an economy that doesn't rely on manufactured goods.
  • Does anyone have any ideas on what we are going to do about generating revenue?
  • Hamilton: When A National Bank would be established, owned jointly by the government and private investors, for the government to store money and make loans. A national mint would print paper money.
  • Jefferson: My people of the south believe that creating a national bank is stretching elastic clause.
  • Hamilton you propose you want to make a national bank, why is that?
  • Hamilton was a "loose constructionist" meaning that he believe that elastic clause gives congress the authority do what is "necessary and proper" to carry out it's powers.
  • However, Jefferson is a strict constructionist.Meaning he wants a "necessary and proper" clause that puts stronger limits on what is truly necessary.
  • Did you know that Alexander Hamilton, the first person to ever be the leader of the treasury department supported an economy that supported businessman and manufactured goods made in America?
  • It's really funny that the secretary of state, Thomas Jefferson, always had conflicting opinions with him. He said that he wanted a economy that supported farmers and agriculture.
  • They also had differing opinions when it came to the kind of Government they wanted too! Hamilton wanted a strong federal, central government.
  • Jefferson supported strong state and local governments. They really do have differing opinions!
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