Federalist Vs Anti Federalist analysis and application

One situation in which William Shatnire witnessed the resulting factors of the newly ratified Constitution was a financial problem the country faced, during the first years of the new federal government, which was a time when it had hard time raising money. At first the Congress took on a tariff on imports known as the Tariff of 1789. The government needed this money to survive and to be able to pay off the debt. In 1790, the national debt totaled more than $50 million, most of which was “owed to both domestic and foreign lenders (248)”.

When Congress could not come up with a solution that was reasonable, they turned to Alexander Hamilton with the problem. He soon proceeded to come up with a “Report on Public Credit.” In this paper Hamilton showed that the only way for the government to establish credit was to “assume the obligations accumulated by the states during the previous fifteen years and redeem national debt by agreeing to a new issue of interest-bearing bonds” (248). Madison’s federalists held their ground, but it was only with the passing of the movement of the new national capital to Philadelphia, where they able to pass the bill.         

This triumph was important, but it needed something which would be necessary to carry it out. It required a central bank. Hamilton then offered a solution. He wanted to set up a establishment that was to be called the Bank of the United States. This bank was “to serve as the depository of government funds” (248). The central government was becoming independent, and less reliant on the states. What Hamilton did was that he made the nation stronger in the eyes of other nations. This is a great accomplishment.

Most people thought that the country’s constitution was just ratified and there were no arguments over it being accepted or not. In fact there were enough disagreements that made it very close to it not being passed. Even before the United States Constitution was ratified there was debate over whether or not to have a strict interpretation or a loose one. Just look at the power America has today. But besides everything that happened, the Federalist did a great job in starting up the country. “As James Madison stated, “If men were angels. No government would be necessary”. But since men were not angels , he felt a strong government was needed” (civics.org article).