Federalist Era

Only available on StudyMode
  • Download(s) : 31
  • Published : April 29, 2013
Open Document
Text Preview
The Federalist Era
Why did liberalism largely displace republicanism as the guiding ideology in the early republic? What is capitalism?
An economic and political system in which a country's trade and industry are controlled by private owners for profit. The fall of republicanism?
Capitalism replaced mercantilism
oEconomics and morality were indistinguishable in the 18th century so capitalism had to win the intellectual and moral debate Adam Smith, An inquiry into the Nature and causes of the Wealth of Nations, 1776 •Most important essay on economics ever written, laid groundwork for capitalism •Argued self-interest produced prosperity

o“invisible hand”
Natural human ambition will cause person to want to reduce costs in creating product Governments distort market, thereby driving up costs
Economics in the 1790s
Alexander Hamilton was Treasury Secretary
Federal government should inherit State debts and keep it high through… •Bank of United States (BUS)
Impose high tariffs on foreign imports to keep jobs and currency circulating in US •Build-up manufacturing sector (industry)
Anti-federalist Critique
states without debts should not pay for other states’ debts •BUS will favor the merchants and rich
Manufacturing strips men of virtue
“Those who labour in the earth are the chosen people of God” – Thomas Jefferson, Notes on Virginia, 1781 The fall of republicanism
American revolution was dominated by republicanism and notions of quality, liberty oRepublicanism lost its hegemony in American culture during the 1790s to liberalism Is campitalism an egalitarian idea in the 18th-19th century?

Capitalism and Democracy
Capitalism won the debate. It’s the most democratic, libertarian, and equitableeconomic system in 18th -19th century. oFocused on exchange rather than landed wealth, so it hurt aristocrats oThe government could not pick favorite to create monopolies oEconomic freedom was a part of political freedom

oCapitalism equalized the playing field more than any other system oPeople chose capitalism freely, albeit hesitantly
Capitalism Held on in U.S why?
Industrialism took longer to take hold
More hierarchy in Europe
Slavery helped poor whites accept capitalism
Liberty is the whole point of America and capitalism is full economic librty •Quality of life increased like never before
1770-1800 agricultural productivity increased 250%. No technological innovation. Just people for the first time believing in themselves. Key figures
President George Washington – (F)
Vice president John Adams – (F)
Treasury secretary alexander Hamilton – (F)
Secretary of state Thomas Jefferson – (A-F)
The united States in the 1790s
1788 – George Washington elected president
Federalists controlled government until 1800
Federalists and Anti-federalists fought over interpretation of constitution after ratification •Major issues
oForeign relations
oWar debt
oDomestic stability

Ideological division between Federalists and Anti- Federalists FederalistsAnti-federalists
Model US on England to become a European powerIsolationist, they don’t want to expand Support BUS (bank of the united states)Oppose BUS
Favor EnglandFavor France
Expand military Contract military
Flexible tariffUniform Tariff
Political ideology formed immediately, but respect for Washington curtailed party-formation until 1796 Foreign Policy problems
French Revolutionary Wars 1793-1815
oWashington unconstitutionally ordered a proclamation of neutrality in 1793 oUS owed France money for War of Independence 1776-1783
oUS was on peaceful terms with England again by 1793
oUS caught in the middle of global powers
Britain passed legislation seizing US ships trading with France. France did the same. US wanted free trade for all
oEngland negotiated with Native Americans to attack US frontier Federalist Foreign Policy
Washington had no precedent or model
Help...
tracking img