Issues_Of_The_New_American_Government

Issues Of The New American Government The federal administrations faced several economic challenges between 1789 and 1800. Three of the most significant of these challenges were raising revenue, establishing public credit, and the national bank. The early representatives of the United States had to deal with these important issues and apparently did a good job considering our government is still one of the greatest in the world and our economy is still strong today. Revenue was the new government’s most critical need. Given its importance, the congress made a revenue measure one of its first items of business. At first Madison proposed a tariff on all imports that would be used for revenue. However, disappointment from northern manufacturers, who wanted more protection from foreign competition, forced a compromise. Instead of taxing all imports, the compromise imposed higher tariffs on certain listed items only. Madison had hoped to wage war with Great Britain because of the fact that they had more foreign trade with the United States than any other country, yet had no treaty with the new nation. The businessmen of the north weren’t in the mood to bring back economic pressures of the past because they didn’t want bank, government, first, national, hamilton, made, because, revenue, representatives, report, public, great, economic, credit, capital, bonds, united, three, states, source, proposed, new, nation, important, federal, economy, challenges, world, value, uniform, today, speculators, sold, second