Jordan's Personal Gallery

Project 1

Project 1

Published on 9 June 2022
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Transcript
00:01
Hamilton and the Federalist Party
00:08
The Federalist Party was a U.S. National Political Party that advocated a strong central government and it was founded in 1791.
00:08
One of the first political parties in the United States
00:18
Hamilton got support from people who wished to strengthen national instead of state power.
00:25
People who supported Hamilton and the Federalists: Typically urban bankers and business men
00:32
Beliefs and Goals: -Supported Tariffs -Centralized National Government with strong fiscal roots -Felt the constitution was open for interpretation
00:39
National Bank
00:40
-Bank of United States -Provide loans to business men to given them a reason to invest in industry.
00:50
Stable currency and encouraged investment-controlling inflation by limiting amount of money that the federal government issued.
00:58
Washington's Choice
00:59
He chose Hamilton and Jefferson for their differences in opinion. Hamilton distrusted popular will and believed that federal government should wield considerable power in order to "steer". Jefferson placed his trust in people as governors.
01:09
No Political Parties
01:10
-Division in his cabinet -opposition between the parties created tension/hardship
01:11
-Washington saw how potentially dangerous  the creation of political parties would be.  Not only for future administrations but also nation as a whole.
01:21
Democratic party today
01:22
Supports liberal platform on American political spectrum with an emphasis on the role of federal government in promoting economic and social welfare.
01:33
Similarities and Differences
01:37
Similarities: Both believed that central government should exist. Federalists emphasized industry's, manufacturing, shipping, and trade which coincided with the Democrat's idea of working families to support them.
01:40
Differences: Democrats wanted to support health care and tax cuts but tax cuts go against what the Federalists want because they go against the idea of tariffs to raise money to pay off the debts of Revolutionary war and supporting the government. The Federalists also belived that there should be more power in the central  government and less power for the states.  The Democrats say  that the central government and the states should have equal power.
01:55
The political parties increased participation in politics, provide  a cue for citizens to cast their votes, and organize  business of congress and governing.