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Date Posted: 19:49:41 09/30/02 Mon
Author: *MaLlOrY*
Subject: Ch. 7-Dollars and Ships

Dollars and Ships
Between 1793 and 1800, Hamilton had increased the public debt by nearly tripling it.
A. Limiting the Federal Government
1. 1802-Jefferson administration persuaded Congress to abolish all internal taxes
a. this left only customs duties and western land sales as only sources of profit for government
2. Secretary of the Treasury Gallatin reduced government spending
3. During his presidency, Jefferson cut national debt almost in half ($ 83 million to $45 million)
4. Jefferson reduced armed forces (4,000 men to 2,500)
5. He also helped establish the United States Military Academy at West Point (founded in 1802)
B. Challenging the Barbary Pirates
A. Barbary States of North Africa demanded protection money from all nations who sailed the Mediterranean
B. During the 1780’s and 1790’s the U.S. agreed to provide annual tribute to the Barbary States
1. Jefferson was reluctant to continue this – instead he wanted to start war
a. 1801 – Tripoli (Barbary State) chopped down American flagpole (a declaration of war)
b. over the next several years, Jefferson built up American fleet
c. 1805 – U.S. finally reached agreement with Tripoli leaders that ended American payments
d. however, U.S. was required to pay $60,000 ransom for release of American prisoners
i. this humiliated America

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