Why did Thomas Jefferson and James Madison oppose Hamilton's economic program?

Answer 1

Assumption, outlined in the Report on Public Credit, would make the federal government more powerful. But it was the cornerstone of Hamilton's entire program and Hamilton was willing to give up New York, manipulate Virginia's numbers, and make compromises to get it passed (Compromise of 1790, history's most famous dinner). A national bank, outlined in the Report on the National Bank, had a foundation based on the elastic clause, or the necessary-and-proper clause. Jefferson and Madison thought that not only was a bank not necessary, it would put all the economic power in the cities (which they minded, but Hamilton didn't), and it was a perversion of the Constitution. They were strict constructionists and thought the Constitution should be taken literally. Hamilton, on the other hand, did not. They, Jefferson in particular, wanted the wealth of America to stay in the farmland and agriculture. Both Virginia plantation owners, Hamilton's plan for a diversified manufacturing based economy frightened them. They hated cities, especially Jefferson, and didn't want to see anything there. They thought Hamilton was trying to control the government, plain and simple, and passing his plans wasn't going to help (appeasement). They weren't totally unfounded in their accusations - Hamilton did make the Treasury Department huge, what with the US Mint, the National Bank, the Coast Guard, the Customs Service, and had more clerks working for him than the State and War departments combined. But, of course, Hamilton wasn't. Yet Jefferson and Madison were absolutely terrified of what he could do - he was what people then would call "an intriguer". They thought the economic program was the first step.

Answer 2

Assumption, outlined in the Report on Public Credit, would make the federal government more powerful. But it was the cornerstone of Hamilton's entire program and Hamilton was willing to give up New York, manipulate Virginia's numbers, and make compromises to get it passed (Compromise of 1790, history's most famous dinner). A national bank, outlined in the Report on the National Bank, had a foundation based on the elastic clause, or the necessary-and-proper clause. Jefferson and Madison thought that not only was a bank not necessary, it would put all the economic power in the cities (which they minded, but Hamilton didn't), and it was a perversion of the Constitution. They were strict constructionists and thought the Constitution should be taken literally. Hamilton, on the other hand, did not. They, Jefferson in particular, wanted the wealth of America to stay in the farmland and agriculture. Both Virginia plantation owners, Hamilton's plan for a diversified manufacturing based economy frightened them. They hated cities, especially Jefferson, and didn't want to see anything there. They thought Hamilton was trying to control the government, plain and simple, and passing his plans wasn't going to help (appeasement). They weren't totally unfounded in their accusations - Hamilton did make the Treasury Department huge, what with the US Mint, the National Bank, the Coast Guard, the Customs Service, and had more clerks working for him than the State and War departments combined. But, of course, Hamilton wasn't. Yet Jefferson and Madison were absolutely terrified of what he could do - he was what people then would call "an intriguer". They thought the economic program was the first step.

Answer 3

Assumption, outlined in the Report on Public Credit, would make the federal government more powerful. But it was the cornerstone of Hamilton's entire program and Hamilton was willing to give up New York, manipulate Virginia's numbers, and make compromises to get it passed (Compromise of 1790, history's most famous dinner). A national bank, outlined in the Report on the National Bank, had a foundation based on the elastic clause, or the necessary-and-proper clause. Jefferson and Madison thought that not only was a bank not necessary, it would put all the economic power in the cities (which they minded, but Hamilton didn't), and it was a perversion of the Constitution. They were strict constructionists and thought the Constitution should be taken literally. Hamilton, on the other hand, did not. They, Jefferson in particular, wanted the wealth of America to stay in the farmland and agriculture. Both Virginia plantation owners, Hamilton's plan for a diversified manufacturing based economy frightened them. They hated cities, especially Jefferson, and didn't want to see anything there. They thought Hamilton was trying to control the government, plain and simple, and passing his plans wasn't going to help (appeasement). They weren't totally unfounded in their accusations - Hamilton did make the Treasury Department huge, what with the US Mint, the National Bank, the Coast Guard, the Customs Service, and had more clerks working for him than the State and War departments combined. But, of course, Hamilton wasn't. Yet Jefferson and Madison were absolutely terrified of what he could do - he was what people then would call "an intriguer". They thought the economic program was the first step.

Answer 4

Assumption, outlined in the Report on Public Credit, would make the federal government more powerful. But it was the cornerstone of Hamilton's entire program and Hamilton was willing to give up New York, manipulate Virginia's numbers, and make compromises to get it passed (Compromise of 1790, history's most famous dinner). A national bank, outlined in the Report on the National Bank, had a foundation based on the elastic clause, or the necessary-and-proper clause. Jefferson and Madison thought that not only was a bank not necessary, it would put all the economic power in the cities (which they minded, but Hamilton didn't), and it was a perversion of the Constitution. They were strict constructionists and thought the Constitution should be taken literally. Hamilton, on the other hand, did not. They, Jefferson in particular, wanted the wealth of America to stay in the farmland and agriculture. Both Virginia plantation owners, Hamilton's plan for a diversified manufacturing based economy frightened them. They hated cities, especially Jefferson, and didn't want to see anything there. They thought Hamilton was trying to control the government, plain and simple, and passing his plans wasn't going to help (appeasement). They weren't totally unfounded in their accusations - Hamilton did make the Treasury Department huge, what with the US Mint, the National Bank, the Coast Guard, the Customs Service, and had more clerks working for him than the State and War departments combined. But, of course, Hamilton wasn't. Yet Jefferson and Madison were absolutely terrified of what he could do - he was what people then would call "an intriguer". They thought the economic program was the first step.

Answer 5

They believed it benefit the wealthy, as said so in my history book :)

Answer 6

i don’t know. Do u know that was 1900 bruh lol

Answer 7

Assumption, outlined in the Report on Public Credit, would make

the federal government more powerful. But it was the cornerstone of

Hamilton's entire program and Hamilton was willing to give up New

York, manipulate Virginia's numbers, and make compromises to get it

passed (Compromise of 1790, history's most famous dinner). A

national bank, outlined in the Report on the National Bank, had a

foundation based on the elastic clause, or the necessary-and-proper

clause. Jefferson and Madison thought that not only was a bank not

necessary, it would put all the economic power in the cities (which

they minded, but Hamilton didn't), and it was a perversion of the

Constitution. They were strict constructionists and thought the

Constitution should be taken literally. Hamilton, on the other

hand, did not. They, Jefferson in particular, wanted the wealth of

America to stay in the farmland and agriculture. Both Virginia

plantation owners, Hamilton's plan for a diversified manufacturing

based economy frightened them. They hated cities, especially

Jefferson, and didn't want to see anything there. They thought

Hamilton was trying to control the government, plain and simple,

and passing his plans wasn't going to help (appeasement). They

weren't totally unfounded in their accusations - Hamilton did make

the Treasury Department huge, what with the US Mint, the National

Bank, the Coast Guard, the Customs Service, and had more clerks

working for him than the State and War departments combined. But,

of course, Hamilton wasn't. Yet Jefferson and Madison were

absolutely terrified of what he could do - he was what people then

would call "an intriguer". They thought the economic program was

the first step.

Answer 8

y3et beans