Quiz 7.2

As part of the first cabinet, the biggest problem facing Alexander Hamilton was...

• repairing the relationship between the US and Great Britain.

• issuing protective tariffs on European goods.

• finding a way to pay off the national debt.

• preventing people from rebelling against the government.

Which of the following actions was part of Alexander Hamilton’s economic plan? (Pick 2)

• Take responsibility for paying back all of the States debts gained during the Revolutionary War.

• Replacing interest-bearing bonds with new high-value bonds

• Eliminating the national mint to add more cash to the economy

• Requiring states to pay their Revolutionary War debts.

Jefferson was against the government paying, _______________, or people who buy items at low prices in the hope that the value will rise.

• Interest

• Debt

• Bonds

• Speculators

The Federalist Congress enacted "its" charter, as part of Hamilton's plan to solve the debt crisis in Feb. 1791.

• Treasury Department

• Federal Reserve

• Bank of the United States

• Bill of Rights

According to Thomas Jefferson, what was a serious flaw in Alexander Hamilton’s plan for a national bank?

• Keeping the nation’s money in one place would create unnecessary risk, endangering the economy in case of foreign attack or natural disaster.

• A national bank would not help the United States economy grow.

• The federal government lacked the authority to create a national bank, making it unconstitutional.

• A national bank would put private lenders out of business, giving the federal government an unfair monopoly on granting loans.

Which of the following would be ideas that Thomas Jefferson would approve? (Pick 2)

• The economy should be built upon agriculture (farming).

• The Bank of the United States as unconstitutional.

• The government should support an economy based on manufacturing and trade.

• Supported a loose-interpretation of the Constitution.

How did Hamilton get Southerners to support his economic plan?

• He promised to move the nation's capital to the South.

• He promised to focus the nation's economy on agriculture.

• He promised that he would not create a national bank.

How did Hamilton justify the creation of the national bank?

• By quoting the "Necessary and Proper Clause" saying the idea of a national bank was an implied power.

• By quoting the Declaration of Independence saying that the provided a way for all men to be created equal.

• By quoting the Preamble of the Constitution saying that bank was intended to promote the general welfare.

What Southern City was selected to move the Capital too?

• Philadelphia

• Charleston

• Savannah

• New York

How long was the charter for the National Bank?

• 15 years

• 20 years

• 25 years

• 10 years