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Cards In This Set
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An act or decision that sets examples for others to follow
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Precedent
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The ceremony at which the President officially takes the oath of office
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Inauguration
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How many executive departments were in Washington's first Cabinet?
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5
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What were those first five positions of Washington's Cabinet?
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Sec of State, Sec of Treasury, Sec. of War, Attorney General, Postmaster General
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Who served as Washington's Sec. of State?
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Thomas Jefferson
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Who served as Washington's Sec. of Treasury?
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Alexander Hamilton
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Who served as Washington's Sec. of War?
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Henry Knox
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The total sum of money a gov't. owes to others...
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National debt
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What did the Judiciary Act call for?
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Supreme Court -1 Chief Justice, 5 associate justicessystem of district & circuit courts
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Who was the first Chief Justice of the Supreme Court?
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John Jay
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A certificate which promises to repay the money borrowed plus interest...
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Bond
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What was Hamilton's plan for getting this new nation out of debt in 1789?
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1. buy all bonds issued during Revolution2. sell new bonds to pay off old debts3. economy improves-pay off new bonds
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Who would benefit from the national gov't. paying off these old bonds?
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Speculators
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Why would speculators benefit from the nat'l gov't paying off the old bonds?
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Holders of bonds needed money, would sell at less than face value, speculators buy these bonds, gov't pay face value plus interest-benefit speculators who are now holders of the bond
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Why did the south not want the nat'l gov't to pay off state debts?
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Southern state already paid off their debts
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