U.S. Political Economy 1788-2016 Please
Elections 1788-1824 England's Political Influence Finally
Ends and the South Has Some Success
in Controlling Northern Business Interests.
Federalists favored unity through a strong central government, close ties to Britain, a centralized banking system, and close links between the government and the men of wealth who should run government. Republicans under Jefferson Madison and Monroe strongly opposed Alexander Hamilton's Federalist agenda. They stressed being more of a Republic where the individual is sovereign as opposed to democracy where the sovereign is the group, the majority.
Executive privilege was used by G.W. to keep
Jay Treaty documents
from Congress. Other Presidents would claim the right, courts would
sometimes have to decide legality. Think NSA data
Elections 1828-1852 Federalism vs. State's Rights and Democracy vs. Republican, the Fight Begins When the Democratic-Republican Party of the Jefferson became factionalized in the 1820's, Andrew Jackson's supporters began to form the modern Democratic Party. It hoped to take political power from the established elites to ordinary voters. It supported the predominance of the Presidency over the other branches of the U.S. Federal government. They continued the Bank War by opposing a bank charter renewal of Alexander Hamilton's Bank of the United State. Democrats also opposed Whig sponsored modernizing programs which they felt would helped industry at the expense of the taxpayer. These battles continue today! Democrats fought Adams and Anti-Jacksonian factions which soon emerged as the Whig party. They were led by Henry Clay who advocated the primacy of Congress over the Executive Branch. They opposed economic protectionism for Northeastern industry.
Indian Removal Act of 1830 forced Indians
Elections 1856-1896 Civil War Ends, Northeast Takes Control, The Gilded Age is Built on the Backs of the Poor, Especially Women, Immigrants, and Blacks The civil War was followed by massive industrialization centered on rail roads, canals and steamships. Massive wealth was created. Farm mechanism lowered the cost of food and this coupled with science made for a somewhat more prosperous middle class. Immigrants suffered.
Panic of 1857 was caused by a low gold-backed money supply
resulting from high consumption of European goods. Overbuilding by competing railroads and rampant Western land
speculation caused speculative financial problems. Think
2) The Civil War was more than a fight to eliminate slavery.
3) Enforcement Acts of 1870-71 were designed to protect Indians and blacks from the Ku Klux Klan. It failed.
4) The Panic of 1873 was caused by a low money supply caused by the Coinage Act of 1873. Workers blamed cheap foreign labor. It was called the Long Depression until the 1930's when the Great Depression caused more hardship. It would not be the last time immigrants were blamed for worker problems. Think Trump's Wall.
5) The Pendleton Civil Service Reform Act of 1883 added merit to the government hiring process. Thus began the replacement of the spoils system in the federal hiring equation.
6) The Chinese Exclusion Act of 1882 lasted until 1942. The Scott Act of 1888 expanded the restrictions on Chinese immigration. Think current Muslim Immigration issues.
7) The Interstate Commerce Act of 1887 began an attempt to regulate business trusts and decrease their use of monopoly power.
8) The McKinley Tariff of 1890 set a record for high rates. Profits increased as did the price of consumers goods.
9) Panic of 1893 resulted in a severe depression. Reluctantly J.P. Morgan bailed out the gold standard with $60,000,000. The 1894 Wilson–Gorman Tariff lowered tariffs slightly & created a 2% income tax on high over $4,000 ($88,100 in 2010 dollars) income. The 1895 Supreme Court. declared it unconstitutional.
Progressives and Populists
Finally End to the
Gilded Age But
Business Power Would Return
After WW I. The 1896
realigning election resulted in a Republican Party forged conservative coalition.
It consisted of businessmen, professionals, skilled factory workers, and
prosperous farmers. There would be
much opposition resulting in two unsettled decades.
was desired by colonial empire and business interests.
Business also had pushed for the 1897
Dingley Tariff Act which
at the expense of consumers who paid higher tariff induced prices. The
Gold Standard protected savers
from inflation but its inflexible money supply caused hard
2) The Panama Canal acquisition of 1903 eventually resulted in improved transportation.
3) Progressive Republican FDR successfully fought business Trusts. First with the 1906 Meat Inspection Act and Pure Food & Drug Act. The Hepburn Act increased Interstate Commerce Commission regulation of Rail Road Trusts which still managed to control rates and competitors.
4) American Antiquities Act of 1906 created National Monuments and was one of many conservation activities.
5) The Panic of 1907 needed help from both J.P. Morgan and the Treasury as more liquidity was needed than Morgan's wealth could provide. Liquidity would be provided by the 1913 the Federal Reserve Act. The FED would be the Lender of Last Resort. The act wax designed by Wall Street bankers who continue to dominate the country's financial activities. Think Great Recession.
6) Democrat Woodrow Wilson would continue the progressive agenda. The Revenue Act of 1913 substituted income taxes for lower tariffs and this lowered the price of consumer goods. The Federal Trade Commission Act of 1914 was a major effort to control business trusts. The Clayton Antitrust Act of 1914 outlawed specific conduct putting teeth into Sherman Antitrust Act. The Federal Farm Loan Act of 1916 increased credit to rural family farmers and the Keating–Owen Act of 1916 temporally lowered child labor abuses..
7) Segregated government continued as Wilson was like progressives T. Roosevelt and T. Jefferson's he also felt Americans were not ready for integration.
8) The Revenue Act of 1921 and Revenue Acts of 1924,1926,1928 reduced taxes so only richest 2% paid income taxes. Think 2 W. Bush tax cuts. The Fordney McCumber Tariff Act was one of many protectionist measures during the decade. Smoot–Hawley Tariff Act of 1930 to protect US industries failed to help as Canada, France and others retaliated. A Mexican Repatriation program help unemployed Mexican citizens return home. It represented forced out migration. Think current immigration problems.
9) Great Mississippi Flood of 1927 resulted in the Flood Control Act of 1928. It created the U.S. Army Corps of Engineers to watch over public infrastructure..
10) The 16th, 17th, and 19th amendments made some progressive policies permanent.
Party Control Flip Flops Like a
but Progress Was Made. Republicans
were penalized by outrage
caused during the summer of 1932 by Veteran
Bonus Army deaths. It combined with the of Hoover's domestic policies
|Democrats promoted American Liberalism. It anchored in a coalition of specific liberal groups, especially ethno-religious constituencies (Catholics, Jews, African Americans). White Southerners, well-organized labor unions, urban political machines, progressive intellectuals, and populist farm groups were also courted.|
American Citizens in 1942 consisted of 150,000
mostly Japanese men, women
|1 The idea that Muslims Extremism is behind all military confrontations in the Middle East and Africa reminds me of the Cold War. Then regime change in Egypt and Syria plus Para military confrontations in Central and South American were all said to be inspired by Communist. Looking back neither Egypt or Syria became Communistic and few of these conflicts resulted in communist governments. Oligarch looking to control their lesser developed countries need money and the USSR would contribute to one side and the U.S. would contribute to the other side. Today. conservative Muslims have the money to help local Oligarchs wanting control.||2According to Henry Kissinger's biographer Walter Isaacson, President Johnson's reason for U.S. involvement in Vietnam was the Domino Theory. It stated that a nation A falling to Communism would make it easier for Communism to gain control of Nation B and then Nation C. This idea was already being questioned when Nixon took offices. Still it took six years before we were forced out of Vietnam. Henry's reason for taking so long and not withdrawing in the promised six months was the importance of maintaining U.S. foreign policy creditability. Statements that something will hurt the U.S. should be followed by questions pertaining to how much harm and in relation to what? About half of the U.S. causalities occurred during the Nixon-Kissinger watch even though both men entered office thinking the Vietnam War was not winnable.|