The Politics of Passion

Assumption

The federal government would pay off all the public debt from the American Revolution

The Dinner Party

The compromise of 1790 was a compromise among Alexander Hamilton, Thomas Jefferson, and James Madison. Hamilton was allowed to start assumption and Madison obtained the national capital.

John Adams

America's first Vice-President and second President.

Thomas Jefferson

The 3rd President of the United States who wrote the Declaration of Independence. He was also the secretary of state for Washington.

Alexander Hamilton

Secretary of Treasury in the Cabinet

Bank of the United States

Proposed by Alexander Hamilton as the basis of his economic plan. He proposed a powerful private institution, in which the government was the major stockholder. This would be a way to collect and amass the various taxes collected. It would also provide a strong and stable national currency. Jefferson thought it was un-constitutional. nevertheless, it was created. It also helped start political parties, this being one of the major issues of the day.

Whiskey Tax

Part of the excise taxes, added a tax on whiskey at seven cents a gallon This helped pay of some of the debt.

Tariff

A tax on imported goods

Strict Constructionism

a judicial approach holding that the Constitution should be read literally, with the framers' intentions uppermost in mind

Loose Constructionism

Courts should read the Constitution expansively and should not limit themselves to what is explicitly stated