National Debt And Some Early Foreign Policies example essay topic

Benefits of Federalists It is beneficial that Federalists had the most power in the American government for a time before the Republicans gained power. During the Federalist's rule they were successful in creating foundations that allowed others to build upon, but not radically change, the progress of the nation. Just some of the foundations that the Federalists set up were the bank, the national debt, and a foreign policy. The bank was a strong institution set up by Hamilton, the secretary of the treasury under president Washington. The bank was where the treasury would invest their surplus money. This allowed federal money to be kept in circulation, and be allowed to stimulate business.

Yet another function of the bank would be to print and circulate federal currency. This is obviously a step in the right direction for a budding nation. By setting up a national bank America, under the federalists, the nation was moving towards a strong economy. The bank also brought up another issue when it was discussed in congress.

Hamilton who was proposing the bank came under fire from Jefferson for taking a loose construction of the constitution. Jefferson believed that a strong construction was the proper construction. Jefferson's doctrine of strict construction, rigorously applied, would have been a straitjacket, preventing the federal government from adapting to meet both the challenges and the opportunities that were to come in the future. According to this quote Hamilton and the Federalists loose construction allowed the government to flourish, and adapt when necessary. This greatly benefited the country, where as a strict construction might have striped the government of needed powers. Another foundation set up by the Federalists, more specifically Hamilton, was the federal debt.

Under his economic plan Hamilton proposed to assume the debts of all the states, and to try to build a nation debt. He felt the establishment of debt was necessary to connect businesses to the government, and to establish credit for the country. A national debt, if it is not excessive, will be a to us a national blessing, he [Hamilton] wrote. It will be a powerful cement to our nation. It will also create a necessity for keeping up taxation to a degree which, without being oppressive, will be a spur to industry.

Any foundation that brings the nation together and helps industry flourish must be seen as a blessing. Had Republicans held power at this time of unstableness in America, no debt would have been established and the country's economy wouldn t have become so strong. In fact, if no debt had been established, it is hard to imagine how Jefferson would have purchased Louisiana during his presidency. The country would have had poor credit, and wouldn t have been able to borrow money to fund the purchase.

Aside from the afore mentioned economic foundations established by Federalists, a neutrality proclamation was issued by president Washington in 1793. This was one of the first foreign policies that America adopted. Accordingly, Washington boldly issued his Neutrality Proclamation in 1793, shortly after the outbreak of war between Britain and France. This epochal document not only proclaimed the government's official neutrality in the widening conflict by sternly warned American citizens to be impartial towards both armed camps such proved to be a major prop of the spreading isolationist tradition. Washington's policy of neutrality kept an unsteady country out of a war. This neutrality, for a time, benefited the country because it promoted national safety.

America's army and navy were definitely not the strongest in the world at the time, and entering any conflict would have been a great risk. Jeffersonian Republicans, however felt differently about the situation. They felt close ties to France because of the Franco-American alliance during the revolution. Had republicans been in power it is safe to assume that no neutrality proclamation would have been created and American might have entered into the war to aid the French. This would have cost valuable American resources that a weak nation cannot afford to lose. Federalist power at the birth of the American nation was quite beneficial to the future of the nation.

The federalists established foundations that guided the nation on the proper path. Some of these foundations were the national bank, a national debt, and some early foreign policies. In the words of historian Henry Adams, great-grandson of John Adams, [the Federalists served] as the, half-way house between the European past and the American future.