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Word Count: 764
Though both Alexander Hamilton and Thomas Jefferson served as members of President Washingtons cabinet the two held very different views on the newly founded US government and the role of the masses in that government During the 1790s the views of Hamilton and Jefferson would develop into two competing political views and eventually form the basis of the first political parties in the US They both debated on the economics central governmentdifferent political views and foreign policy However I believe Hamilton had better views for America Hamilton became secretary of the treasury in 1789 He had a complex financial plan which consisted of five major components funding at par assumption of state depts tarrifs excise taxes and an establishment for a national bank Funding at par would bolster the national credit and urge Congress to pay off the entire national debt Assumption of State depts would urge Congress to assume the states debts Excise taxes secured an excise tax on a few domestic items such as whiskey The foundation of Hamiltons financial plan was a Bank of the United States He proposed that Congress establish a national bank to handle the governments financial operations This measure was opposed by Secretary of State Thomas Jefferson who did not believe that Congress had the power to establish such an institution Hamilton wanted the government to encourage manufacturing and he recommended measures for that purpose Jefferson opposed such a program because they thought that it would hurt farming interests Congress partly followed Hamiltons suggestions Conflicts between Hamilton and a group led by Jefferson and Madison resulted in the development of the nations first two political parties Hamilton led the Federalist Party which favored a strong central government The Democratic-Republican Party headed by Jefferson and James Madison wanted a weak national government and stronger independent state government Hamilton believed in the constitution He believed in a strong center government to properly function and that the government should have a
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