debt, this plan opposed by Alexander Hamilton; fear that AH’s plan was bad for farmers & the South, led to first official political parties: Federalists vs. Democratic Republicans
-Jefferson (D-Rs) believed in a strict construction of the Constitution (the gov’t cannot do anything unless the law says it can), Hamilton (Feds) believed in a Loose construction (the gov’t can do anything unless the law says it cannot)
-Hamilton’s plan passed through Congress, concession to the South was moving…
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