slot 2 = gw characteristics –what characteristics have you learned about gw? –are these...
TRANSCRIPT
• Slot 2 = GW Characteristics – What characteristics have
you learned about GW?– Are these characteristics
good ones to have as a President? Why?
• Slot 1 = US vs other Revs– What makes the US
Revolution and years after the Revolution different than France (1789) and Russia (1917)?
• Title = Debt Video Analysis– http://www.youtube.com/wat
ch?v=notJuFGXQ9w– Analyze the Pol/Econ/Soc
views of the following men in the video clip• Hamilton• TJ• GW• Adams
– Alexander Hamilton said the National Debt was a “National Blessing.” How does that make sense?
• Title = Pope Cartoon Analysis– What makes a political cartoon
effective?– What makes this one effective?
• Analyze the economic and political decisions of the Federalists from 1789 to 1800
• Analyze the political and economic decisions during the GW presidency
• Analyze the causes of the fall of the Federalists
• Can he make one?– Yes…Article 2 (consult
opinions)• GW’s Cabinet was
strong…4 positions…– Sec of state
• TJ (from?)– Sec of Treasury
• Alex Hamilton (from?)– Sec of War
• Henry Knox (from?)– Attorney General
• Edmund Randolph (?)
• What does this say about GW?
• Domestic (2)– Constitution +
Bill of Rights finalized
– Debt solution– Whisky
Rebellion• Foreign (1)
– French Revolution & GB vs France
• What is the biggest goal GW needs to accomplish?
• Why so much debt?• Why does it have to be
solved…• This guy will solve it
– Amazing that he pulled it off!!!• Short version (3 parts…All
are NEEDED!!!!!!!!)1. Combine the debt…
2. Pay off the debt 3. Make a Bank to organize the
debt (almost vetoed by GW)
4. Promote Industry
• Born in Caribbean (Nevis)– “whore child” orphaned at 11 – Toughest origins of all FF’s…
• 1773…applies to colleges– Needs to know how to translate
Greek to Latin• usually takes 3 years• AH does it in 6 months!!!
• Goes to Columbia (not Princeton) law school– “Let me go at my own pace.
Don’t slow me down”• ~3-7 years to pass Bar Exam
– Hamilton does it in 6 months– Makes a handbook as he studies– used as a model later on– “Mere Schoolchild” next to AH
• Rev War Hero…– War changed him…(????)
• Dangerous and Virtuous– Rev War Army coup idea!– Dem-Reps target him for
corruption• 1793…did treasury inquiry to prove he
was not funneling gov $$ for himself (3 weeks to do 9-mo task)
• Politically virtuous but personally scandalous…
• City guy…Loved NYC– Fast-paced/Industry– What/who else?????
• Not totally Laissez-Faire…• De Facto PM to GW
– Told GW…for USA to be seen as legitimate…$$$ problem must be solved
• What do you think of him?
• What # did you get?– $75 million
• 54 federal & 21 state– US dollar is weak in
1790• Who is the money
owed to?– Lenders…two of them
• European banks • American merchants &
speculators…
• Federal gov “takes” all of the state debts (assumption)
• Who dislikes this?–Southern
states…why?• North has
more debt and off the hook more (why does it have more?)
• Fed gov take debts• South gets Capitol
– Washington DC– On Potomac River– GW surveyed the
land– Sneaky compromise
over a dinner
• Do not want the money they lent to collapse
• AH has to show them that the USA can pay them back…“We are not sinking!!”– How would that make the USA
look?• Credible dollar• Credible economy
• Solution 2 = Debt Consolidation!!– Takes out a second $75 mil
loan loan…
• 1st debt was the hodgepodge debt of $75 mil • 2nd debt was the 2nd $75 million loan • 3rd debt will be…
– US Bonds ↓
• Bond = You loaning $$ to the gov• 10/20/30 year bonds
– you give $100 to government at a certain interest % rate
– after certain number of years you get $100 plus interest
– Why do you like it?• Reward for putting faith in the USA
– Why does the Fed Gov like it?• It uses your money to pay off other loans,
makes profit with it, etc
– now the lenders really have a stake in US gov
• You have to!!! Why?– The USA’s financial
reputation is at stake (hmmmmmmmm)
– And if USA does well with trading and making good products, it will bring in the $$$ and your bond will be paid to you with interest
• Who is this bond plan for?– Rich…(?)
Can the Fed Gov make a Bank that works for the USA?
• A Private Bank whose biggest client was the US Gov• Is having a client this big good for the bank’s
business? (80% of the $ was private)
1. Tariff2. Whiskey tax3. Mercantilism…
1. Tariff = tax on imported goods– What does it do
for young US industries?• Protects them
– Hamilton wants USA to be industrialized…• Jefferson wanted
us to be agrarian
2. Tax on Whiskey in 1791…
3. Mercantilism– Do well in foreign
trade!!! (how?)
• Jefferson and many Americans disliked it (Why?)– because Federal
government looks too strong again
– Jefferson and the Necessary and Proper Clause• Is a bank ↑?• How should the Constitution
be interpreted?• if the Bank is not mentioned
in Constitution, then what?
• Therefore Bank of United States should not exist
• Constitution and Necessary and Proper Clause should be interpreted…– if Bank is not listed in
Constitution, then what?– so the Bank can exist
• Don’t forget this Necessary and Proper Clause debate with a certain issue this year…
• Major enemies in Washington’s cabinet
• Both wanted GW’s support• Washington sided with
Hamilton mostly• Jefferson resigns in 1793
Federalist Beliefs(former Anti-Federalists)Democratic-Republicans
Leaders
Appealed to
Alexander HamiltonJohn Adams
Thomas JeffersonJames Madison
--Manufacturers, merchants, wealthy and educated. . .--Favored seaboard cities
--Farmers, planters, common man. . .--Favored the South and West
Ideas of Government
--Strong government need to guarantee natural rights --Loose Construction of Constitution (Implied Powers)--Wealthy & educated involved
--State’s rights over National Govt.--Strict construction of Constitution(Enumerated Powers)--Common man, but educated--Bill of Rights is most important
DomesticPolicy
--Supported National Bank—BUS--Supported excise tax--National debt good for country--National govt. assume state debts--Tariffs should be high
--Against National Bank—BUS--Against excise tax --Against National debt--States pay their own debts--Tariffs should be low
ForeignPolicy
--Opposed French Revolution--Wanted war with French--Favored the British
--Supported French Revolution--Opposed war with French---Favored the French
political
• Title = Batman and GW• How does the following movie clip apply to Washington’s 2nd
Term and government in general?
Day 52 Opening Q
• Early in the Revolution – 1789…reactions– USA overall?– Federalists?– Jefferson and the
Anti-federalists?• What were the
FFs after all?
• Louis XVI and Marie Antoinette get executed in January 1793
• Now the USA feels?– Why?
• Jefferson still happy for it
• Execution of Louis XVI turns off USA somewhat to the French Revolution
• France and GB coalition will be at war soon in Europe
• Feds and Anti-Feds are split…
• GW’s decision?• Reactions?
Genet Affair
• Genet…– Girondin– Creates trouble in
USA ($$$ to US Pirates)
– Pals with TJ!!!– Stands up to GW!!!– GW wins!!!– AH letters > JM letters
• How does the story go?– Sounds familiar!!– Did the farmers
have a good case?– Western farmers
see the gov as…• Autocratic, $$$-
sucking tyrants
• What does GW have to do to the rebels? (and why?)
• What is done in the end?
• USA’s reaction to GW?
• Feds and Anti-Feds are split…• GW’s decision?
• War between GB and France is getting worse
• What is it not respecting?• What is GB doing?
– Seize USA Cargo order…• GW doesn’t want to do
this, but he has to ↓
• GW Sends John Jay to London to negotiate (AH!)– AH gave Jay a checklist!!– Think Poker…does USA
have a good hand?• No…USA & GB know it
• The treaty details– GB will leave NW forts (ha)– GB will pay for recent
seizures– USA’s ships still not viewed
neutral and can be stopped/seized by GB Navy
– USA has to pay for pre-Rev debts to GB merchants
• Everyone hates it– GW (AH persuades him to
sign it)• AH is a sneak…secretly talked to
British people behind GW’s back to make the deal
– Jeffs = livid…the treaty lets the parties be known clearly now
– Americans mad USA siding w/hated British• Fear of return to GB (monarchy &
autocracy) controlling USA• Kentucky threatened to……..
• Jay fears for his life • AH letters > Madison letters
– AH criticized Jeffs– Public later supports treaty!!!
• Treaty still ratified in 1795
• Democratic-Republicans– AKA Jeffersonian
Republicans– NOT the Republican
Party of today• Formed by TJ and
state leaders• Political and Social
beliefs?? (think 4S’s)• Two parties will now
fight for power…– Federalists vs Dem-Reps
Washington
• Realist vs Idealist (ha)
• TJ talked smack on – GB + AH
conspiracy theory
– GW = senile• GW confronts
& cuts out TJ• Monroe in
France & Jay’s Treaty!!
• Randolph’s letter about GW
• Sets another unwritten precedent (only 1 will break it)
• Federalists will weaken after GW’s Presidency– Dem Reps will have
their 2nd Revolution soon
• Gave warnings– Political Parties – Your HW…(4 ¶’s)
• Graded Discussion using three sides of the classroom– Bulletin Board = Fix the Debt
with Taxes– Poster Wall = Fix the Debt with
Spending Cuts– Middle Desks = Fix the Debt
with a 50/50 split• Sit on whichever side that you
feel fits your beliefs– Then try to defend your position
• You can move during the discussion if you are persuaded
• One speaker at a time
