Essay heading: Economic Interpretaion (C. A. Beard)

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American History

 

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September 12, 2007

 

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2 / 358

 

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As a result, he suggested that the primary beneficiaries under the Constitution would have been individuals with commercial and financial interests - particularly, those with public securities holdings who, according to Beard, had a clause included in the Constitution requiring the assumption of existing federal debt by the new national government...
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Commercial and financial interests also would benefit because of more certainty in the rules of commerce, trade, and credit markets under the Constitution. More isolated less-commercial farmers, debtors, paper money advocates, and the northern planters along the Hudson would be the primary beneficiaries under the status quo...
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