James Madison

Economic Beliefs

Facts


  • James Madison wrote a speech he gave to congress citing The Wealth of Nations book while opposing a national bank.
  • Madison at first vetoed having a second national bank, later on their was another bill about the bank and he signed it having learned it was needed.
  • Madison wanted to continue Jefferson's agenda, the dismantling of the system left behind by the federalists under Washington and Adams.
  • Used the book to see the role for society opposite of the government, by shaping individual behavior.
  • Madison was also a member of the Virginia Convention of 1788 that ratified the U.S. Constitution.
  • Madison sponsored the Bill of Rights
  • Foreign policies were guided by his republican ideals and his faith in the strength of the expanding U.S. economy.