Summary of Woody Holton's Unruly Americans and the Origins of the Constitution - E-book - ePub

Please note: This is a companion version & not the original book. Sample Book Insights: #1 The American Revolution was supported by many private creditors, who were among the Constitution's most ardent supporters. However, Beard's interpretation does not explain the enthusiasm that the proposed national government inspired in men such as Madison and Alexander Hamilton. #2 The American economy was in dire need of capital in 1787, and the framers believed that a national government was the only way to attract it.
They believed that a virtuous government would attract capital, and that cracking down on debtors and taxpayers would end the terrible recession that had followed the Revolutionary War. #3 In 1786, Madison and Monroe bought land on the Mohawk River, nine miles from the site of the Stanwix treaty. They knew their plan contained a fatal flaw, as Americans were becoming more and more reluctant to lend money to their fellow citizens. #4 Americans, just like James Madison, were frustrated with the economic situation in their country.
They were unable to borrow money, and this led to many ambitious men trying to find ways to get loans so they could buy land and expand their trade networks.