Inquiry Into the Origin and Course of Political Parties in the United StatesVan Buren, Martin
History
Inquiry Into the Origin and Course of Political Parties in the United States
Van Buren, Martin
Political parties -- United States
The power wielded by the English ministry, in Parliament and in the
country, springs from influences derived from various sources, mainly
from the funding system, from the Bank of England, from connection with
the East India Company, and from ability to confer government favors on
individuals and classes in the shape of offices and dignities in church
and state, of titles, pensions, bounties, franchises, and other special
privileges of great value. Its power in these respects is derived from
the crown in virtue of its prerogatives, aided by acts of Parliament
where these are required by the Constitution.
The measures which Hamilton deemed indispensable to the success of the
new government, in addition to those authorized by the Constitution,
consisted of
_First._ A funding system upon the English plan, with authority to
assume the separate debts of the States;
_Second._ A national bank; and,
_Third._ An unrestricted exercise by Congress of the power to raise
money, and the employment of the national revenue in patronizing
individual, class, and corporate interests, according to the plan
described in his report, nominally on manufactures, but embracing an
infinite variety of other concerns.
The funding system, as presented to Congress by him, as well as the bank
were not only on the English plan, but as far as that could consistently
be effected were copies of the originals, and substantially the same
reasons for their establishment here were assigned in his report as had
been given for their first creation in England. The third measure, or
rather the third in his system of measures, as set forth in the
Secretary's report, partook largely of the general character of some of
those alluded to above as sources of ministerial power in England, and,
in connection with the means of securing legitimate influence allowed by
our Constitution, would have clothed the administration here with equal
power, even without authority to grant titles of nobility,
ecclesiastical preferments and dignities, and other like privileges.
Public-domain text, read in full here on John Shaqi.
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