Alexander Hamilton vs. Thomas Jefferson

Philosophically speaking, Thomas Jefferson based his political ideals from the writings of lavatory Locke who assumed that the function of the goernment (as a trustee of the people) is to protect the proficients, property, and shore leave of the individual, in the pursuit of happiness. Thomas Jefferson put this primary axiom when he wrote the Declaration of Independence, stating that governments created by men ought to protect the rights and liberties of an individual, moreso of the fecundity of every arouses beneath the protection of the United States confederation (that the state is the trustee of its citizens.If the government accordingly fails its duty, the people have the right to overthrow it. The implication of this principle is to dedicate a truly representative government a government govern by separated causations (to match the stability of the state) the executive, legislative, and judiciary, as in their case, the landal and state government. It was necess ary for Jefferson to ensure that every state be condition equal amounts of freedom, unconstrained by the functions of the federal government. This is not the case with black lovage Hamilton.This two-star general and secretary of Treasury saw the future of political stability lying in the hands of a strong government, represented by a strong leader (accompanied in governance by an fable elected by the people). In his words, An executive for liveness has not this condition for forgetting his fidelity and will therefore be a safer depository of power (Zaide 392) He was in effect suggesting an executive elected for life, for which it is generally unconstrained by the rudiments of politicking.Thus, in every occasion to which he was asked to explain his plans for the newly-born republic, he always made it clear that an elected executive for life is not tantamount to a monarch. Nevertheless, in the latter part of his life, he abandoned the idea, focusing instead on streng and thening the powers of the federal government, oftentimes making many enemies at the state governments. On the Credit frame When Hamilton became secretary of treasury, he had a ready made plan for transforming the Statess economy into a credit-based economy, unhampered by the problems of agricultural drudgery (land based economy).Basing his policies from David Hume, an English economist, he argued that the only way for the sequestered sphere to participate in the economy is in the credit transcription. Private wealth would be converted into bonds, used as paper capital, which could be add to foreign states. In much(prenominal) case, both the public and the government would benefit. capital would float in the economy, lowering worry rates, and hastening capital accumulation.Although, the credit system has some advantages, Hume warned the dangers of this system (which Hamilton disregarded), included of which is an oppressive valuate system, vulnerability to indebtedness, and of he ad for the hills wealth gap among the citizens. Jefferson dismissed Hamiltons action in writing, claiming that such sparing policies will put the nation in a state of limbo, hampered by the lack of respectability in the arts of economics, and infiltration of economic principles in the form and nature of the government to which they established.He also noted that such schemes implemented by Hamilton where in themselves the representation of his interests the tyranny to which he was and was always represented. Together with Madison, Jefferson indicated his concerned as to who should be paid and how much by the federal government a proposition that Hamilton left without considerable measures. Nevertheless, a public credit policy would left the government at the grace of the public sector via in the court of law, for which contracts are well-established to be expert and sincere.On the National Bank Hamilton was on the idea of establishing a national bank, governed by private individu als. He argued that efficiency would be the lasting mark of a bank ruled by the private sector (based from Adam Smith). putrescence would be a no-no for this group of entrepreneurs. Capital accumulation would hasten, giving the federal government revenues to finance its activities.In his words, It is in therefore in the interest of the federal government to give the private sector a freehand in the economy for an economy closely governed by the government seemed to be ineffectual and lacked the motive to accumulate capital, be it in monetary monetary and arbitrary forms( Zaide 392). The bank then would be a safe haven of federal banks, for the governing body is itself not corrupt. Jefferson, on the other hand advocated for the composition of a national bank, but unlike Hamilton, this bank will be predominantly governed by the federal government, with some representation from the private sector.This would ensure according to him the efficacy of the federal governments power over fiscal matters. Nonetheless, together with Madison, he argued that if such bank governed by the private sector is established, what are the chances then that such bank would represent the interest of the nation (Toynbee 359). On Taxation Hamilton implemented strict excise tax on liquors arguing that liquors was a good source of revenue, as it is terrible for the health and morality of the citizens of the nations.It was liquor that destroyed the dignity of the American nation during the Continental war (indiscipline broke among the soldiers of the revolution because of liquor). Nevertheless, economically, taxes on liquor would resolve as the point of capital accumulation for other industries developing in the United States. Because of his policies, a peaceful Whiskey Rebellion followed. Although the citizens of Pennsylvania did not resist (when Washington and Hamilton came in with the militia), Hamilton ordered the detention of suspected dissidents.Jefferson bitingly criticized the actions of Secretary Hamilton claiming that such acts were acts of tyranny. The tax on liquor itself was impinging the right of every citizen to the pursuit of common happiness. He put his views into action when he abolished taxes on liquor during his presidency. He simply backslide the policies of Hamilton, putting twitch on congress to adopt his own scheme, which Jefferson claimed would benefit the nation. Policies on struggle Hamilton did not support the French revolution and its ideals claiming that such revolution was to a fault radical and dangerous for the nation of America.Jefferson bitterly opposed his plan to adduce war on France, claiming that such actions would put the United States in the very(prenominal) footing as the Western imperial powers of which represented the pinning of a tyrant and oppressive monarchical system of government. Jefferson however, supported the war against the Barbary States in North Africa, claiming that the pirates residing in the said st ates were harassing American shipping in the Mediterranean. chance for the Future of America Hamilton believed that the future of the United States lies in its economy and soldiers strength.The economic success of America would lift the status of the United States to a position of power. Thus, to maintain its status as a power, the United States then should maintain or create a large armed disembowel capable of pressuring other nations to obedience, which is, following its political and economic agenda. Jefferson, during his presidency gelded the budget of the army and navy. War and aggression had no place in Jeffersons policies. For him, prosperity lies in foreign diplomacy and fair trading.There was by all odds no room for imperialism. References Declaration of Independence. US score. Org. http//www. ushistory. org/declaration/document/index. htm. June 28, 2007. Johnson, Paul. A History of the American People. Chapter V, VI. Harper Publishers. 1963. Thomas Jefferson. The Whit e House. http//www. whitehouse. gov/history/presidents/tj3. html. June 28, 2007. Toynbee, Arnold. A Study of History. (Abridged) Oxford University Press, 1987). Zaide, Gregorio. World History. Manila Rex Publishing House, 1965.