Chapter 7 Section 1: Washington Leads a New Nation PDF
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This document is part of a chapter on American history, focusing on George Washington's presidency and the early financial challenges faced by the new nation. It discusses the Electoral College and Alexander Hamilton's financial plan. The chapter segments cover topics like national debt, bonds, and speculators.
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Chapter 7 Section 1: Washington Leads a New Nation Pg 234-237 George Washington: The Guiding Force Revolutionary General Married to Martha Washington Unanimous Choice Elected as the first President of the United States by the Electoral College in 1789. Electoral College: A body of electors who...
Chapter 7 Section 1: Washington Leads a New Nation Pg 234-237 George Washington: The Guiding Force Revolutionary General Married to Martha Washington Unanimous Choice Elected as the first President of the United States by the Electoral College in 1789. Electoral College: A body of electors who represent the people's vote in choosing the president National Unity Washington's presidency laid the foundation for a strong central government and a united nation. The Electoral College: A Delicate Balancing Act: https://www.britannica.com/video/2190 34/demystified-how-does-electoralcollege-work Minority 2 Constitutional 1 Protecting Interests Mandate The Electoral College ensures that smaller states have a voice in the presidential election, preventing purely popular vote domination. Established in Article II, Section 1 of the United States Constitution to select the President and Vice President. and 3 Compromise Stability The Electoral College strikes a balance between the will of the people and the preservation of the federal system. Chapter 7 Section 2: Hamilton and National Finances Pg 238-242 The National Debt 1 National Debt: 2 Bonds: 3 Speculators: Money owed by the United States Certificates of debt that carry a promise to buy back the bonds at a higher price People who buy items at low prices in the hopes that the value will rise and they can sell items for profit Alexander Hamilton: The man with a plan Developed a three-point plan to solve the nation's financial problems 1. Deal with the Debt: BONDS - sell new interest bearing bonds to replace the old low-value ones (Thomas Jefferson thought this was a wretched plan, but Hamilton won over the other politicians) 2. Gain Revenue: TARIFFS 3. Stabilize the Banking System: Create a National Bank and National Mint
