Presentation on theme: "HAMILTON VERSUS JEFFERSON. Views on Strict versus loose interpretation of the Constitution Hamilton Favored a loose interpretation of the Constitution’s."— Presentation transcript:
HAMILTON VERSUS JEFFERSON
Views on Strict versus loose interpretation of the Constitution Hamilton Favored a loose interpretation of the Constitution’s elastic clause about making all “necessary and proper” laws; Congress could act whenever it was “proper”. Jefferson Favored a strict interpretation of the Constitution’s elastic clause; Congress should act only when “necessary”.
Views on the National Bank Hamilton Wanted Congress to charter one, sell some if its stock to individuals; this would be good for investors in the bank. Jefferson A national bank is not “necessary,” so it is not authorized under the Constitution; such a bank would benefit commercial classes, not the farmers Jefferson favored.
Views on paying the national debt from the war Hamilton Fund it at par via new bonds; pay security holders in full; benefits well-to-do security holders and commercial interests. Jefferson Initially, opposed; ordinary citizens had loaded the government money and then had to sell the securities at a deep discount to speculators - wanted these people at least partially repaid. Accepted Hamilton’s plan in exchange for the move of the Capitol.
Views on the American economy Hamilton Stressed manufacturing, commerce, finance. Jefferson Wanted a simple agrarian economy.
Views on British society and government Hamilton Admired both; liked the orderliness of the British government and financial systems. Jefferson Disliked both; thought British society was decadent, the government corrupt and anti-republican.
Views on France’s Revolution Hamilton Abhorred the violence and social disruptions of the French Revolution. Jefferson Admired France’s republican revolution.
Views on the central government Hamilton Favored a strong central government. Jefferson Favored state’s rights.