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Recommended: The role of government in the economy
The nation’s new economy had officially been created in 1787 when the U.S constitution had been adopted. This new document was a work of genius; this document had established an entire nation as an economic charter, which at the time had only covered Georgia to Maine, the original 13 colonies. This brand new constitution ministered that the government could balance commerce with the foreign nations and amidst the states, create money, while still regulating its appraisal, create equal bankruptcy laws, create new fixed standards of measurement and weights, create new roads and post offices, and finally create new rules of governing copyrights and patents. Alexander Hamilton, one of the many Founding Fathers of the nation as well as the first Secretary of State to the U.S government, believed in this idea of an economic development strategy that ultimately pursue future economic growth through the functions of altered manufacturing, banking, and shipping. One of Hamilton’s political rivals, Thomas Jefferson, had based his own philosophy on how the government must support the common man from the economic and political autocracy. Jefferson glorified the small farmers of the time as “the most valuable citizens” (Outline of the U.S. Economy, 2009). Then in 1801, Thomas Jefferson became president of the United States and served 2 terms and propagandized a more circulated, natural government. One of the next big moments in the nation’s economy has to deal with plant: cotton. This small-scale crop that is grown in the South flourished preceding Eli Whitney’s invention of the cotton gin in 1793 (Enchanted Learning, 2014). This machine separated the cotton from the waste and seeds that could be found on the plant. This caused a mass... ... middle of paper ... ... States and served 2 terms and propagandized a more circulated, natural government. One of the next big moments in the nation’s economy has to deal with plant: cotton. This small-scale crop that is grown in the South flourished preceding Eli Whitney’s invention of the cotton gin in 1793 (Enchanted Learning, 2014). This machine separated the cotton from the waste and seeds that could be found on the plant. This caused a massive influx of people to the South. However, the plantation owners in the South began to buy out land of the small farm owners which resulting in a mass move to the West. While these West movers were considered to be severely independent, they did have a strong belief that when the government tried to intervene or help in any way, either directly or indirectly, interfering with control was wrong and was not the correct use of their power.