American Economic Policies - Hamilton and Washington

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Questions and Answers

What was the primary goal of Hamilton's protective tariff?

To support farmers in the South

To raise revenue for the national government

To make American goods cheaper than foreign goods (correct)

To eliminate competition from foreign companies

Which group was most likely to oppose Hamilton's protective tariff?

Businessmen seeking to import goods

Factory owners in the North

Agricultural workers in the South (correct)

Investors in American industries

How did the creation of a national bank benefit the American economy?

By enabling foreign loans to American businesses

By offering high-interest rates on savings

By providing paper money to pay government bills (correct)

By reducing tariffs on imported goods

What motivated Washington's Neutrality Proclamation of 1793?

Fear of economic destruction due to foreign conflicts Signup and view all the answers

What was the major long-term effect of Washington's foreign policy?

Nearly 150 years of neutrality in conflicts Signup and view all the answers

Why did Hamilton's protective tariff benefit business owners?

It encouraged domestic manufacturing and job creation Signup and view all the answers

What fear led Washington to cut ties with the French in negotiations?

Fear of losing neutrality and economic stability Signup and view all the answers

Which statement best reflects the benefits of Hamilton's financial policies?

They aimed to diversify the economy and promote entrepreneurship Signup and view all the answers

What was a major effect of the Louisiana Purchase on American expansion?

It provided land for the westward expansion. Signup and view all the answers

What was one purpose of Lewis and Clark's expedition?

To map the Louisiana Purchase territory. Signup and view all the answers

What was Tecumseh’s primary belief regarding Native American customs?

Returning to traditional ways could resist settlers. Signup and view all the answers

What was one of the main causes of the War of 1812?

The seizure of American ships by the British. Signup and view all the answers

What was the main consequence of the Treaty of Greenville?

It required Native Americans to cede land for money. Signup and view all the answers

How did tariffs specifically impact the southern region's economy?

They caused cotton to pile up unsold. Signup and view all the answers

What was the core idea behind Clay’s American System?

To raise tariffs and improve infrastructure. Signup and view all the answers

What was one significant change in everyday life during the early republic?

A move from rural farming to industrial factory work. Signup and view all the answers

What did the Monroe Doctrine assert regarding European involvement?

The U.S. would protect newly independent Latin American nations. Signup and view all the answers

What was one impact of the Latin American revolutions?

Freed Latin American nations from European dominance. Signup and view all the answers

How did the tariffs affect the relationship between northern and southern regions?

They created economic disparities that favored the north. Signup and view all the answers

What was an outcome of Tecumseh's leadership?

The Native American confederation fell apart after his death. Signup and view all the answers

Which statement accurately describes the economic changes in the early republic?

Industrialization led to a more urban workforce. Signup and view all the answers

What did the Monroe Doctrine aim to prevent?

European colonization of the Americas. Signup and view all the answers

What was the main reason for the Neutrality Proclamation?

To protect American trading interests Signup and view all the answers

How did the election of 1796 affect political tensions in the United States?

It made it difficult for the president and vice president to work together Signup and view all the answers

What was a core belief of the Democratic-Republican party?

More power to state governments Signup and view all the answers

Why did Jefferson oppose pro-manufacturing policies?

He wanted to ensure rural interests were prioritized Signup and view all the answers

How did the beliefs of the Federalist party differ from those of the Democratic-Republicans?

Federalists favored a strong central government Signup and view all the answers

What was one significant difference between Jefferson's and Hamilton's views on government power?

Hamilton believed in more federal power than the states Signup and view all the answers

What action did Jefferson take that was inconsistent with his belief in limited federal government?

Purchasing the Louisiana Territory Signup and view all the answers

What was the purpose of the Alien and Sedition Acts?

To increase support for the Federalist party Signup and view all the answers

Why was Adams criticized for not declaring war on France?

He prioritized economic relations over military conflict Signup and view all the answers

What did Jefferson think about the power of federal courts during his presidency?

He believed they should have limited authority Signup and view all the answers

What consistent belief did both Jefferson and Hamilton share?

They both wanted to ensure the success of the nation Signup and view all the answers

What was one reason for Jefferson's support of a laissez-faire economic approach?

To minimize government interference in the economy Signup and view all the answers

Which aspect of Jefferson's beliefs led him to be against a national bank?

He thought it would benefit the elite only Signup and view all the answers

What was a significant consequence of John Marshall's decisions in court?

They established judicial review over laws Signup and view all the answers

What impact did the refusal to go to war with France have on John Adams' political career?

It caused him to lose support among Federalists Signup and view all the answers

Study Notes

Hamilton's Protective Tariff

Hamilton advocated for a higher tariff to make American goods cheaper than foreign ones.
Northern businesses supported the tariff; Southern farmers opposed it due to increased costs.
Supporters likely included business owners who would benefit from job creation in factories.
Opponents likely included farmers who relied on imported goods, as tariffs would make them more expensive.

Hamilton's Economic Policies

Hamilton established a national bank in 1791,
facilitating government payments and business loans.
The bank stimulated economic activity and growth significantly.
A protective tariff also aided the economy by encouraging trade from other countries.

Washington's Foreign Policy

Washington's foreign policy aimed to avoid entanglement in the conflicts between France and Britain (Neutrality Proclamation of 1793).
The policy stemmed from fears of economic hardship from being drawn into the war and losing trade partners.
Washington's policy established a period of neutrality that lasted roughly 150 years (until World War II).

The Election of 1796

John Adams won the presidency and Thomas Jefferson became Vice President.
The differing viewpoints of Adams and Jefferson heightened political tensions.

Democratic-Republican Beliefs

Favored a less regulated, "laissez-faire" economy with lower taxes.
Supported France.
Emphasized states' rights over federal power
Opposed a national bank.
Desired a government distinct from the English model.

Federalist Beliefs

Advocated for a strong central government and limited state power.
Supported close ties with Britain.
Favored a national bank.
Believed only elites should hold political power.
Opposed protecting individual liberties by law.
Favored greater government involvement in trade and commerce.

Jefferson vs. Hamilton

Jefferson and Hamilton disagreed on the optimal approach to national governance and economic growth despite the same goal of national prosperity.
Hamilton preferred a government modeled after Britain's, while Jefferson prioritized farmers and smaller businesses.
They disagreed on the role of the federal government with Hamilton favoring greater federal power, while Jefferson favored a smaller federal government to protect individual freedoms.
Hamilton favored a powerful central government to manage trade effectively and control mob violence. Jefferson feared a strong federal government infringing on state powers.
Hamilton favored a national bank as beneficial to national prosperity. Jefferson opposed a national bank, believing it unnecessary.

Jefferson's Economic Philosophy

Jefferson favored a laissez-faire approach, with minimal government intervention and lower taxes.
He contrasted with Hamilton's belief in government's active role in regulating the economy.

The Louisiana Purchase

The Louisiana Purchase was a significant acquisition of land.
It granted access to the Mississippi River and New Orleans port.
It greatly facilitated westward expansion.
It significantly expanded farmland for cotton plantations on the Mississippi River.

Lewis and Clark Expedition

The Lewis and Clark expedition mapped the newly acquired Louisiana Territory
It established relations with Native American tribes and explored new regions.
The expedition helped open up trade routes and encouraged westward expansion.

The War of 1812 Causes

British support for Native American resistance to westward expansion.
British seizure of American ships.
British impressment of American sailors.

Native American Conflicts

Conflicts arose between settlers and Native Americans because of lost trade opportunities, war involvement, and the collapse of Native American confederations.
The Treaty of Greenville, meant to establish peace, was eventually broken and led to further conflict.

Tariffs and Regional Impact

Tariffs disproportionately impacted the South, leading to surpluses of unsold cotton, widespread inflation, and reduced incomes for farmers and merchants.
Northern manufacturers benefited from tariffs by charging higher prices for their goods, increasing profits.

Clay's American System

Clay's plan aimed to build tariffs, roads, and bridges to stimulate economic growth but primarily benefited northern industries by increasing prices for all.

Early Republic Everyday Life Changes

Rapid industrialization.
Urbanization as people moved from farms to factories.
Increased literacy rates and access to information due to the wider availability of books.

Latin American Revolutions

Latin American revolutions resulted in independence from European control.
These revolutions influenced American foreign policy regarding European interference in the Americas.

Monroe Doctrine

The Monroe Doctrine asserted U.S. opposition to European colonization or intervention in the Americas.
It aimed to prevent European powers from re-establishing colonial control.
It signaled a growing American presence and influence in global affairs.

Tecumseh

Tecumseh was an influential Native American leader.
His leadership united various tribes to resist American expansion.
He advocated for the preservation of traditional Native American ways of life and opposition to white encroachment.
His death resulted in the collapse of Native American resistance efforts.

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Description

Explore the economic strategies of Alexander Hamilton and George Washington's foreign policy. This quiz covers Hamilton's protective tariff, national bank establishment, and Washington's stance on international conflicts. Understand the impact these policies had on different American factions and the economy.