Malcolm Rivera
The US Constitution, adopted in 1787, established the nation as a unified market, with no internal tariffs or taxes on interstate commerce. The Constitution also gave the government the power to coin money and establish a mint, with the dollar becoming the official monetary unit in 1792. In the early years of the Constitution, the US economy was largely agricultural, with most people living on farms and producing much of what they consumed. The First Bank of the United States was established in 1791, and the country saw moderate economic growth in the 1780s. Over time, the Constitution has evolved and expanded, with amendments being added to address issues such as slavery, due process, equal protection under the law, and voting rights. The size of the Supreme Court has also changed multiple times, and the interpretation of the Constitution has been influenced by the political and economic interests of those in power. While the Constitution has endured, there have been critiques of its lack of explicit provisions for fundamental economic rights.
| Characteristics | Values |
|---|---|
| Date of adoption of the U.S. Constitution | 1787 |
| Monetary unit of the U.S. | Dollar |
| Basis of the dollar's value | Gold and silver |
| Year the First Bank of the United States was chartered | 1791 |
| Year the First Bank of the United States closed | 1811 |
| Type of economy in the U.S. in the first third of the 19th century | Mostly agricultural with increasing industry |
| Number of times the size of the U.S. Supreme Court has changed | Multiple times |
| Number of constitutional amendments added right after the Civil War | 3 (13th, 14th, and 15th) |
| Number of states that established conventions and achieved the needed three-quarters ratification within four months | 43 |
| Number of terms Roosevelt was elected as President | 4 |
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What You'll Learn
- The economy was boosted by Hamilton's 'implied powers' argument
- The Coinage Act of 1792 established the dollar
- The US Constitution abolished internal tariffs and taxes on interstate commerce
- Roosevelt's four terms as President led to a two-term limit for future presidents
- The US Supreme Court has changed size multiple times
The economy was boosted by Hamilton's 'implied powers' argument
Less than three years after the ratification of the Constitution, Alexander Hamilton discovered "implied powers" that were hidden in the Constitution. These implied powers were used to justify Congress chartering the First Bank of the United States. Hamilton affirmed the doctrine of delegated powers and then effectively nullified its limiting force. He argued that there are implied as well as express powers, and that the former are as effectually delegated as the latter. He further contended that implied powers are to be considered as delegated equally with express powers.
Hamilton's argument was that all government is a delegation of power, and that the extent of delegation in each case is a question of fact, to be made out by fair reasoning and construction, upon the particular provisions of the Constitution. He believed that the specified powers of Congress are in their nature sovereign, and that it is incident to sovereign power to erect corporations. Therefore, Congress has the right to erect corporations within the sphere and in relation to the objects of their power.
Hamilton's opponents, including Thomas Jefferson and James Madison, argued that the lack of specific delegated authority barred Congress from chartering a bank. They warned that the proposed "federal" government would quickly grow in power and scope. Hamilton's arguments ultimately won out, and George Washington signed the bill chartering the First Bank of the United States.
Hamilton's victory was seen as a profound defeat for the Constitution. His "implied powers" doctrine set the stage for much of the federal overreach that we see today. Hamilton effectively flipped the constitutional structure on its head, with the powers of the federal government becoming "numerous and indefinite" rather than "few and defined". Critics argue that Hamilton conjured up an almost unlimited reservoir of power for the general government to dip into, allowing it to take whatever actions it deems appropriate.
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The Coinage Act of 1792 established the dollar
The evolution of the US economy after the constitution was heavily influenced by the Coinage Act of 1792, which established the country's monetary system and set the foundation for the US dollar as the standard currency.
The Act created a national mint, authorised the production of federal coinage, and standardised the value and composition of various denominations of coins. It pegged the newly established United States dollar to the widely circulated Spanish silver dollar, stating that the US dollar would have "the value of a Spanish milled dollar as the same is now current". This standardisation ensured a consistent value for the new currency across the nation.
The Coinage Act of 1792 also introduced specific designs and symbols for the coins. It stipulated that an image emblematic of liberty, along with the word "liberty" and the year of coinage, would be featured on one side of the coins. Additionally, the Act mandated that the reverse side of gold and silver coins would bear the representation of an eagle and the inscription "UNITED STATES OF AMERICA". Meanwhile, copper coins were to have their denomination clearly inscribed as one-cent or half-cent.
Furthermore, the Act outlined the roles and responsibilities of key personnel within the mint. It established positions such as a director, an assayer, a chief coiner, an engraver, and a treasurer, each with specific duties related to the production, quality control, and distribution of the coins. The Act also included penalties for debasing the authorised gold or silver coins or embezzling the metals intended for coinage.
The Coinage Act of 1792 played a pivotal role in shaping the young nation's economy by providing a standardised and trusted currency. It facilitated trade, promoted economic stability, and fostered a sense of national unity. The Act's provisions remained largely in effect for decades, with adjustments made over time to meet the evolving needs of the growing country.
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The US Constitution abolished internal tariffs and taxes on interstate commerce
The US Constitution, adopted in 1787, abolished internal tariffs and taxes on interstate commerce, creating a free trade area within the United States. This was achieved through the Import-Export Clause, which prohibits the federal government from imposing taxes or duties on exports. The Import-Export Clause was adopted by the Constitutional Convention, which also decided that tariffs on imports would be the main source of revenue for the federal government. This measure was intended to address the issues faced by states without major ports, which were at a disadvantage compared to states with major ports like New York and Philadelphia. These port states could generate revenue by imposing tariffs on goods passing through to other states.
The Constitution's Commerce Clause played a crucial role in achieving this unification and promoting economic development. It empowered the federal government to regulate commerce, simplify and facilitate trade among the states, and establish a single, universally acceptable currency. This free trade zone contributed to the rapid growth of the US economy, making it the world's most powerful.
The Supreme Court has interpreted the Import-Export Clause through the Michelin doctrine, which relates to interstate commerce. The doctrine established a four-prong test for tax validity, ensuring that taxes do not discriminate against interstate commerce and are fairly related to state-provided services. This interpretation reinforces the Constitution's intention to prevent states from imposing taxes on goods flowing through their ports to other states, promoting harmony and equal public burdens among the states.
The Constitution's approach to economic regulation reflects the framers' belief in restraining public officials from using their influence for private interests. While economic and political interests influenced the Constitution's formation, the framers sought to adopt economically "efficient" rules that promoted the interests of society as a whole rather than specific groups. This balance aimed to create a unified market and foster the country's economic growth.
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Roosevelt's four terms as President led to a two-term limit for future presidents
The US Constitution, ratified in 1787, established the nation's economic foundations. It included clauses that facilitated free trade and simplified commerce, such as the Commerce Clause, which enabled the federal government to regulate commerce and trade with foreign countries, Native American tribes, and among the states. Additionally, the power to coin money and establish a single currency also facilitated trade and economic growth. Copyright laws were also instituted to encourage innovation and artistic creation. These economic foundations laid the groundwork for the rapid expansion of the US economy, which soon became the world's most powerful.
In the late 1800s, the US economy continued to evolve, with the Northeast experiencing an "American Renaissance" marked by the establishment of new public institutions such as hospitals, museums, colleges, and orchestras. This period also saw the rise of the Populist movement, which challenged the economic and political control of the "Redeemers," or southern white elites.
Franklin D. Roosevelt, the 32nd President of the United States, was first elected in 1932 during the Great Depression. He served two full terms and was re-elected in 1940 as the country faced the looming threat of World War II. Roosevelt's leadership during this challenging time inspired Americans, and he was re-elected in 1944, winning 53% of the vote. This unprecedented fourth term in office, however, sparked concerns about executive overreach and the accumulation of power.
New York Governor Thomas Dewey, Roosevelt's opponent in the 1944 election, supported a constitutional amendment to limit presidents to two terms, stating that four terms, or sixteen years, posed a dangerous threat to freedom. After Roosevelt's death in April 1945, just 82 days into his fourth term, the issue of presidential term limits gained momentum. In 1947, the House of Representatives proposed Joint Resolution 27, which called for a two-term limit for future presidents. This proposal was approved and sent to the states for ratification, becoming the Twenty-second Amendment to the Constitution in 1951.
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The US Supreme Court has changed size multiple times
The US Supreme Court has indeed undergone several changes in its size and composition since its inception. Initially, the Supreme Court comprised six justices, as outlined in the 1789 Judiciary Act, which provided for "a chief justice and five associate justices." However, this number was not set in stone and changed multiple times over the following decades due to political and practical considerations.
One notable instance of an attempted change to the court's size occurred in the 1930s during the presidency of Franklin Roosevelt. In an effort to aid the country's recovery from the Great Depression, Roosevelt proposed a series of reforms, some of which were blocked by the Supreme Court as they were deemed inconsistent with constitutional provisions. In response, Roosevelt unveiled a plan in 1937 to modify the composition of the court through the Judicial Procedures Reform Bill of 1937. The proposal would have allowed him to appoint additional justices for every sitting justice over the age of 70, potentially resulting in the addition of six new justices aligned with his agenda. However, this plan faced significant political opposition and was ultimately rejected.
The size of the Supreme Court has also fluctuated at other points in history. In 1801, prior to Thomas Jefferson taking office, Congress passed the Midnight Judges Act, reducing the number of justices. However, this law was short-lived, as Congress repealed it in 1802, restoring the court's size to six justices. In 1807, Congress added a seventh justice appointed by President Jefferson, and in 1837, two more justices were appointed by President Andrew Jackson, bringing the total to nine justices. This number has remained unchanged for the last 153 years, despite various proposals and attempts to modify it.
The evolution of the Supreme Court's size has had a significant impact on the country's political landscape and the interpretation and application of the law. The court's decisions can shape public policy, address injustices, and clarify the Constitution's meaning. The current court consists of nine justices: Chief Justice John Roberts and eight associate justices, including Clarence Thomas, the longest-serving justice, and Ketanji Brown Jackson, the most recent addition.
Turning to the economy, the US Constitution has played a pivotal role in shaping the nation's economic landscape. While the Constitution contains relatively few articles directly related to economics, certain clauses have had a profound impact on economic development. One of the most significant economic clauses is the Commerce Clause, which empowers the federal government to regulate commerce and facilitate trade with foreign nations, among the states, and with Native American tribes. This clause was instrumental in creating a free trade zone within the US, fostering economic growth and unifying the states economically.
Another crucial economic aspect of the Constitution is its protection of private property rights and personal ownership. The Fifth Amendment explicitly states that no person shall "be deprived of life, liberty, or property, without due process of law," and that private property cannot be taken for public use without just compensation. This safeguard encourages innovation and entrepreneurship by providing individuals with the assurance that their property rights will be respected.
Additionally, the Constitution's concept of "implied powers" granted the federal government the authority to undertake initiatives not specifically mentioned in the document. For example, Alexander Hamilton successfully argued for the creation of the First Bank of the United States in 1791, establishing strong national credit and promoting economic growth through diversified shipping, manufacturing, and banking.
In conclusion, while the US Supreme Court has undergone size changes, the current number of nine justices has remained stable for over a century. The court's decisions continue to shape the nation's economic and political landscape. The Constitution, with its economic clauses and interpretations, has been a fundamental framework for the country's economic evolution, fostering free trade, protecting property rights, and enabling economic initiatives.
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Frequently asked questions
The U.S. Constitution gave the government the power to coin money and establish a mint, with the dollar being established as the monetary unit. The First Bank of the United States was also chartered in 1791, and the nation was established as a unified, common market, with no internal tariffs or taxes on interstate commerce.
The United States economy during the first third of the 19th century was mostly agricultural, with a growing industrial sector. Most people lived on farms and produced much of what they consumed. A notable percentage of the non-farm population worked in handling goods for export.
The Constitution does not explicitly provide for basic economic rights, but it does beautifully articulate the notion that the government's power flows from the people. The international human rights system, which the U.S. helped craft after World War II, provides for basic economic rights, which are also recognised in the South African Constitution.
