Political Parties: Thomas Jefferson And Alexander Hamilton

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Political Parties

Thomas Jefferson is a member of the Democratic Republicans. As a Democratic Republican, he believes in individual freedoms and the rights of states. He feared that the concentration of federal power under George Washington and John Adams represented a dangerous threat to liberty. Also known as an Anti-Federalist, Jefferson resented Federalist monetary policies, which believed gave advantages to the upper class. On the other hand, Alexander Hamilton is a member of the Federalists. As a Federalist, he believes in giving more power to the federal government to try to save the inexperienced democracy from destruction and poverty.
Government Strength

Thomas Jefferson believed that we should have a strong state government. He …show more content…
He believed that states should charter banks that could issue money. He argued that the creation of a national bank was not a power granted under the ‘enumerated powers’, nor was it necessary and proper. Jefferson thought that with its special powers and privileges, the U.S. bank would hinder the development of state banks. He believed it would be of far more help to wealthy businessmen in cities than to farmers in the country. In addition, Jefferson argued that the bank would be run by wealthy stockholders and would help this privileged class. On the other hand, Alexander Hamilton favored the idea of creating a national bank. He believed having a bank would aid the government in paying off the debt, coining money, and collecting taxes. Hamilton also thought that the bank would also allow people to borrow money to start business, which could help the economy …show more content…
He wanted lower tariffs that could help farmers keep the price of imported goods low. Although Jefferson thought that tariffs would help pay off the debt, he wanted individuals to be able to buy products from other countries without increasing the price. He believed citizens should depend on themselves, as oppose to be dependent on others. In addition, Jefferson believed this because he ultimately thought of it as a right to citizenship. His overall thoughts on the tariffs was that if you could own your own land, it wasn’t necessary to increase prices on imported goods. On the other hand, Alexander Hamilton believed in protective tariffs, because he favored manufacturing over agriculture. He wanted to increase manufacturing and higher tariffs to raise America’s economy. Hamilton also believed that implementing higher tariffs would create enough credit to pay off the national debt caused by the revolutionary
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