George Washington’s Presidency
As a person Washington was…
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Cautious
Dignified
Meticulous
Respected
Serious
Washington purposely avoided influencing
Congress .
Washington’s cabinet:
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Alexander Hamilton, secretary of treasury
Thomas Jefferson, secretary of state
Henry Knox, secretary of war
Edmund Randolph, secretary of war.
Dealing with the Debt:
• Alexander Hamilton’s instrumental role.
• U.S. owed a combined 51 million to citizens
and foreign governments.
• Hamilton created a system in which the
money of the rich paid off this debt, but at the
same time refunded their money + interest
through bonds.
• 5 % tariff was also established.
The National Bank
• Hamilton vs. Jefferson.
-which supported the bank? Which did
not?
-what were each person’s motives?
-who did President Washington ultimately
side with?
National Bank continued
• The bank issue was about the Constitution’s
“implied powers” (Hamilton) vs. it’s literal
interpretation. (Jefferson)
• The end justified the means, because the Bank
of the United States was immediately
successful while being run primarily by private
businessmen and NOT the government.
The Whiskey Rebellion
• A major challenge to Washington’s economic
policy.
• Frontiersmen grew angry at a direct tax on
whiskey, as it was a way to make significant
profit off of corn.
• A refusal to pay rebellion ensued.
• Washington sent an army to put down the
rebellion.
The Formation of Political Parties
• Foreign policy and events fueled the
foundation of the American 2 party concept.
• The French Revolution had a tremendous
impact on the United States.
Federalists and Republicans:
FEDERALILST
REPUBLICAN
-Alexander Hamilton
-Thomas Jefferson
-Support Great Britain
-Support France
-Supported the Jay Treaty
-Opposed parts of the Jay Treaty
-New England influence/support
-Southern and Western state support
-Supported the Alien and Sedition Acts
-Opposed the Alien and Sedition Acts
-Favored all financial reform and the
National Bank
-Opposed National Bank
End of Washington’s 2nd term
• Jay and Pinckney Treaties both pass, limiting
both British and Spanish influence in America.
• Washington issues foreign policy warnings in
farewell speech.
• John Adams, (Federalist) narrowly wins
presidency with Jefferson,(Republican) taking
the vice presidency.