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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 Federalists 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 Jeffersons 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 national debt He felt the establishment of debt was necessary to connect businesses to the government
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