|What economic problems did the new government face?
||The new government was in great debt. They owed $40.4 million to U.S. citizens, $11.7 million to foreign countries, and $25 million to the states.
|What compromise did Alexander Hamilton, Thomas Jefferson, and James Madison reach regarding repayment of the states debt?
||In return for support of Hamilton’s Assumption plan, the new U.S. capitol would be on the Potomac River.
|What disagreement did Jefferson and Hamilton have over the central government?
||Hamilton believed in federal government power whilst Jefferson believed in state power.
|Hamilton was a New Yorker, while Jefferson was from Virginia. How do you think that affected their views on economy?
||Hamilton favored trade being from New York, and Jefferson favored agriculture because he is from Virginia.
|Do you agree with Hamilton or Jefferson regarding the average citizen’s ability to make decisions for the country? Explain your answer.
||I agree with Hamilton because if citizens had the ability to make decisions for the country, it’d be a mess.
|Why did Jefferson oppose the creation of the Bank of the United States?
||Jefferson opposed the idea of a national bank because he thought it gave the federal government too much power.
|What is the difference between loose construction and strict construction of the Constitution?
||Loose construction means that the federal government can take reasonable actions that the Constitution does not specifically forbid. Strict construction, people should follow exactly what the Constitution says to do.
|Defend Alexander Hamilton’s stance in favor of the creation of the national bank.
||Well the U.S. needed somewhere to store it’s money and a national bank was a perfect solution.