Question

Explain why ThomasJefferson thought Alexander Hamilton’s economic system “flowed from principles adverse to liberty, and was calculated to undermine and demolish the republic.”

Discuss the views of Alexander Hamilton and Thomas Jefferson with regard to their interpretations of the Constitution, whether the national government was supreme, and their visions of the future America

Answer 1

In the 1790s, a conflict took shape between America’s first political parties in the Western world- Federalists and Republicans. The Federalists were led by Alexander Hamilton, and the Republicans (also known as Democratic-Republicans) were led by Thomas Jefferson.
The Federalists were primarily representing the interests of trade and manufacturing, which they believed as forces of progress in the world. They felt that these could be advanced only by a central government which is strongly capable of establishing a stable currency and sound public credit. They were openly distrustful of the latent radicalism of the masses, and thus could nonetheless credibly appeal to artisans and workers. Hamilton's group was inclusive of bankers, merchants, and manufacturers, with few wealthy farmers and Southern plantation owners. Most of these people owned property and were also well-educated. Majority of them were in New England and along the coast. On contrary, Republicans, was founded by James Madison and Jefferson in 1792. The main cause of its creation was to oppose the policies of the Federalist Party and Hamilton. They were in support of a strict construction interpretation of the Constitution, and denounced several proposals by Hamilton’s as unconstitutional. It encouraged rights of states’ and the primacy of the yeoman farmer over industrialists, bankers, merchants, and other interests. Republican Party supports limited regulation by government in the economy, more traditional (conservative) social policies, and lower taxes.