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Thomas Jefferson And The Us Economy

1048 words - 4 pages

During the early years of the United States of America following the winning of independence Thomas Jefferson was one of the most active and influential men in American politics. Jefferson, who spent his childhood roaming the woods and studying on a remote plantation in the Virginia wilderness, became the first Secretary of State under George Washington and later president of the United States. His genius was in his ability to compromise and in the fact he adapted policies to suit the time they were in. While under his leadership the USA doubled in size and became a strong nation.Thomas Jefferson was born on April 13, 1743 in Albemarle County in Virginia. His father owned over a thousand acres of land; the familyâ??s finances were secure. The wealth of his father assured Jefferson the best education opportunities the colony could provide. He was privately tutored as a young boy and then enrolled into a Latin school. By age fourteen he could read Roman and Greek works in the original. (Cunningham 3). At sixteen he enrolled in college of William and Mary in Williamsburg. Jefferson received an exquisite education, which he used to propel him into political stardom.Jefferson was a layer by trade, but did not get started in politics until he inspired by the famous anti-Stamp Act speech of Patrick Henry. He got involved in Virginiaâ??s Committees of Correspondence and was elected into Virginiaâ??s House of Burgesses. In 1774 he completed his Summary View of the Rights of British America. He continued to be in the forefront of the revolution and was chosen to write the Declaration of Independence. After itâ??s completion he returned to Virginia, and in 1779 he was elected governor. He was reelected twice, but he refused to serve the third term. In 1784 he was sent to France as an American minister and did not return until 1789, it is upon his return that he found out that he was appointed and approved to be the Secretary of State. His duties included all foreign affairs plus all domestic concerns not administered to by the Treasury Department. Upon his arrival to his new office he met Alexander Hamilton, Secretary of Treasury Department. The showdown between these two men in the way they interpret the Constitution would shape the nation. (Encarta) Jefferson suggested that only original holders were entitled to full payment. The speculators who bought-up the bonds should only get a percentage of the bond. â??Immense sums were thus filched from the poor and ignorant, and fortunes accumulated by those who had themselves been poorer enough beforeâ? (Sheets). He argued that this way it was a win-win situation. The people got the money they were owned, but the government didnâ??t have to pay as much. Another part of Hamiltonâ??s proposition, which troubled Jefferson, was federal government assuming the state debts. Hamilton argued that this would save money since â??If all public creditors receives their...

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