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George Washington is Inagurated as President
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French Revolution Starts
Americans are pressured
- Don't want to get involved in war -
Hamilton Creates Bank of US
- Gov't deposits taxes in US bank
- US bank then issues paper currency based on total $$
- Paper currency allows loans to farmers & businesses
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Jay's Treaty
- A treaty that was designed to keep america from going to war with britain.
- we had to pay back debt to britian and britain would stop taking our stuff.
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Whiskey Rebellion
- Tax on liquor
- Farmers refused to tax liquor
- create rebellion- tar and feather US tax collector
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George Washington's farewell adress
US should avoid permanent alliances that could drag the country into war. -
Election of 1796
President was a federalist and vice president was a democratic republican -
XYZ Affair
French asked US to give them $250,000 and $10 million
- US refused
- France is taking US ships\
- Didn't go to war -
Thomas Jefferson becomes president