The insurrection or rebellion was a small affair. But the principles at stake were great. It was now shown that the Constitution and the laws must be obeyed; that it was treason to resist them by force, and that if necessary the people would, at the call of the President, turn out and put down rebellion by force of arms.[1]
[Footnote 1: Read McMaster’s History of the People of the United States, Vol. II., pp. 189-204; Findley’s History of the Insurrection in Pennsylvania.]
SUMMARY
1. As soon as Washington was inaugurated, Congress proceeded to organize the new government.
2. The Supreme Court and circuit and district courts were established.
3. The departments of State, War, and Treasury were formed.
4. Twelve amendments to the Constitution were proposed.
5. Three financial measures were adopted:
A. A tariff act was passed.
B. The debts of the states
were assumed, and, with that of the
Continental
Congress, funded.
C. A national bank was chartered.
6. The price of funding was the ultimate location of the national capital on the Potomac.
7. The first census was taken in 1790.
8. The result of the financial measures of Congress was the rise of the Republican party (the forerunner of the present Democratic party).
THE ORIGIN OF POLITICAL PARTIES /-----------------------------------------------------------
---------\
Funding the
Continental Debt.
/------------\
/ Money borrowed in \ Shall it be
\
Foreign debt. | France, Holland, | funded at
| Yes ------+
\ and Spain. / face value?
/ |
|
/ Bills of credit. \
|
| Loan-office |
|
| certificates. | Shall it be
\ |
| Lottery | funded at
| Yes ----+ |
Domestic debt. | certificates. | face value
/ | |
| Interest indents. | or market
\ | |
| New tenor. | value?
/ Yes --+ | |
| Certificates of |
| | |
| officials. |
| | |
\ Final settlements. /
| | | \
|
| | |