- Appoint a scribe and open a Google doc here. Look at Abigail Adams’s letter to her husband here.
Why do you think John Adams proposed investing their money in property?What is Abigail’s alternative proposal?What does it mean purchasing the “Notes at 7 shillings upon the pound.” (Note there are 20 shillings in a pound.)
What rate of interest would Abigail be receiving for her 150 pound investment?
- Debate on discrimination of debt. Look at either the speeches of James Jackson (front 2 rows) Samuel Livermore (rows 3-4) or James Madison back rows
What sort of language do the speakers use? How do they see the various actors in this drama? (That is, who are the actors they mention, how do they see their actions, and how do they think they should be treated?) Do their speeches suggest that they are ok with Hamilton’s plan? Why or why not?
Economists have often said that making contracts inviolable (unbreakable) is fundamental to capitalism. How would the various speakers see this? Was it just that Abigail Adams ultimately got the full value of the bonds (equivalent of 600 pounds) that she paid 150 pounds for? Why?
3. Thomas Jefferson’s Notes on the State of Virginia
What strikes you in Jefferson’s description of Virginia?
What kind of government would be consistent with Jefferson’s ideal? What kind of economy?