Hamilton: Believed in a strong central government. He believed his approach would protect everyone's liberties while keeping the people from having too much power.
Jefferson: Wanted to protect the powers of the state. Believed his approach would protect everyone's liberties while keeping the people from having too much power.
A strong central government to balance "mass of people" and wealthier citizens.
Strong Central Government
Protect the powers of the state. My approach would keep people from having too much power.
Jefferson: Worried about depending too much on business and manufacturing. Believed farmers were the most independent.
Hamilton: Wanted new forms of economic growth.
Let have new economic growth.
Depending on business and manufacturing might not be good.
Hamilton: Wanted to pass a higher tariff, known as a protective tariffs which would raise price of foreign objects. He hoped it would cause Americans to buy US goods, which would protect American manufacturing from foreign competition.
Jefferson: Wanted lower tariffs, which would help farmers by keeping the price of imported goods low.
Adding Higher Tariffs to foreign goods can make Americans buy US goods
Lower tariffs would help farmers.
Hamilton: Wanted to start a national bank where government could safely deposit it's money.
Jefferson: Establishing a national bank worried Jefferson. He didn't believe the US gave Congress this power. His opinion was the National Bank was a convenience not a necessity.
The National bank could safely deposit the governments money.
Let's make a bank for the government.
Hamilton's idea worries me.
The national bank is a convenience not a necessity.
Hamilton: Wanted to put the federal government on a solid financial footing. He feared that otherwise the government would lose the trust of American people.
Jefferson: Opposed Hamilton's plan. He thought the idea cheated the original bondholders who had sold their bonds at low prices.
Let's put the government on a solid financial footing.
What if the gov. loses trust of the American people.
Your idea would cheat the original bondholders who had sold their bonds at low prices.