An Economic Interpretation of the Constitution
Encyclopedia
An Economic Interpretation of the Constitution of the United States is a 1913 book by American
historian Charles A. Beard
. It argues that the structure of the Constitution of the United States was motivated primarily by the personal financial interests of the Founding Fathers. More specifically, Beard contends that the Constitutional Convention
was attended by, and the Constitution was therefore written by, a "cohesive" elite seeking to protect its personal property (especially bonds) and economic standing. Beard examined the occupations and property holdings of the members of the convention from tax and census records, contemporaneous news accounts, and biographical sources, demonstrating the degree to which each stood to benefit from various Constitutional provisions. Beard pointed out, for example, that George Washington
was the wealthiest landowner in the country, and had provided significant funding towards the Revolution. Beard traces the Constitutional guarantee that the newly formed nation would pay its debts to the desire of Washington and similarly situated lenders to have their costs refunded.
in History of Political Parties in the Province of New York, 1760-1776 (1909) formulated the Progressive interpretation of the American Revolution. He said there were two revolutions: one against Britain to obtain home rule, and the other to determine who should rule at home. Charles A. Beard in An Economic Interpretation of the Constitution of the United States (1913) and An Economic Interpretation of Jeffersonian Democracy (1915) extended Becker's thesis down to 1800 in terms of class conflict. To Beard, the Constitution was a counter-revolution, set up by rich bond holders (bonds were "personal property"), in opposition to the farmers and planters (land was "real property.") The Constitution, Beard argued, was designed to reverse the radical democratic tendencies unleashed by the Revolution among the common people, especially farmers and debtors (people who owed money to the rich). In 1800, said Beard, the farmers and debtors, led by plantation slaveowners, overthrew the capitalists and established Jeffersonian democracy
.
Other historians supported the class-conflict interpretation noting the states confiscated great semifeudal landholdings of Loyalists and gave them out in small parcels to ordinary farmers. Conservatives such as William Howard Taft
were shocked at the Progressive interpretation because it seem to belittle the Constitution. History professors, however, mostly adopted it and by 1930 it became the standard interpretation of the era among them, but was largely ignored by the legal community.
Beginning about 1950 revisionist historians argued that the progressive interpretation was factually incorrect; they were led by Charles A. Barker, Philip Crowl, Richard P. McCormick, William Pool, Robert Thomas, John Munroe, Robert E. Brown and B. Kathryn Brown, and especially Forrest McDonald
. McDonald in We The People: The Economic Origins of the Constitution (1958) argued that Beard had misinterpreted the economic interests involved in writing the Constitution. Instead of two interests, landed and mercantile, which conflicted, McDonald asserted that there were three dozen identifiable interests that forced the delegates to bargain.
Evaluating the debate, historian Peter Novick
concluded:
The Progressive interpretation of the era was largely replaced by the intellectual history approach that stressed the power of ideas, especially republicanism
in stimulating the Revolution.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
historian Charles A. Beard
Charles A. Beard
Charles Austin Beard was, with Frederick Jackson Turner, one of the most influential American historians of the first half of the 20th century. He published hundreds of monographs, textbooks and interpretive studies in both history and political science...
. It argues that the structure of the Constitution of the United States was motivated primarily by the personal financial interests of the Founding Fathers. More specifically, Beard contends that the Constitutional Convention
Philadelphia Convention
The Constitutional Convention took place from May 14 to September 17, 1787, in Philadelphia, Pennsylvania, to address problems in governing the United States of America, which had been operating under the Articles of Confederation following independence from...
was attended by, and the Constitution was therefore written by, a "cohesive" elite seeking to protect its personal property (especially bonds) and economic standing. Beard examined the occupations and property holdings of the members of the convention from tax and census records, contemporaneous news accounts, and biographical sources, demonstrating the degree to which each stood to benefit from various Constitutional provisions. Beard pointed out, for example, that George Washington
George Washington
George Washington was the dominant military and political leader of the new United States of America from 1775 to 1799. He led the American victory over Great Britain in the American Revolutionary War as commander-in-chief of the Continental Army from 1775 to 1783, and presided over the writing of...
was the wealthiest landowner in the country, and had provided significant funding towards the Revolution. Beard traces the Constitutional guarantee that the newly formed nation would pay its debts to the desire of Washington and similarly situated lenders to have their costs refunded.
Historiography
Historian Carl L. BeckerCarl L. Becker
Carl Lotus Becker was an American historian.-Life:He was born in Waterloo, Iowa. He studied at the University of Wisconsin–Madison. Frederick Jackson Turner was his doctoral advisor there. Becker got his Ph.D. in 1907. He was John Wendell Anderson Professor of History in the Department of History...
in History of Political Parties in the Province of New York, 1760-1776 (1909) formulated the Progressive interpretation of the American Revolution. He said there were two revolutions: one against Britain to obtain home rule, and the other to determine who should rule at home. Charles A. Beard in An Economic Interpretation of the Constitution of the United States (1913) and An Economic Interpretation of Jeffersonian Democracy (1915) extended Becker's thesis down to 1800 in terms of class conflict. To Beard, the Constitution was a counter-revolution, set up by rich bond holders (bonds were "personal property"), in opposition to the farmers and planters (land was "real property.") The Constitution, Beard argued, was designed to reverse the radical democratic tendencies unleashed by the Revolution among the common people, especially farmers and debtors (people who owed money to the rich). In 1800, said Beard, the farmers and debtors, led by plantation slaveowners, overthrew the capitalists and established Jeffersonian democracy
Jeffersonian democracy
Jeffersonian Democracy, so named after its leading advocate Thomas Jefferson, is a term used to describe one of two dominant political outlooks and movements in the United States from the 1790s to the 1820s. The term was commonly used to refer to the Democratic-Republican Party which Jefferson...
.
Other historians supported the class-conflict interpretation noting the states confiscated great semifeudal landholdings of Loyalists and gave them out in small parcels to ordinary farmers. Conservatives such as William Howard Taft
William Howard Taft
William Howard Taft was the 27th President of the United States and later the tenth Chief Justice of the United States...
were shocked at the Progressive interpretation because it seem to belittle the Constitution. History professors, however, mostly adopted it and by 1930 it became the standard interpretation of the era among them, but was largely ignored by the legal community.
Beginning about 1950 revisionist historians argued that the progressive interpretation was factually incorrect; they were led by Charles A. Barker, Philip Crowl, Richard P. McCormick, William Pool, Robert Thomas, John Munroe, Robert E. Brown and B. Kathryn Brown, and especially Forrest McDonald
Forrest McDonald
Forrest McDonald , is an American historian who has written extensively on the early national period, on republicanism, and on the presidency. He is widely considered one of the foremost historians of the Constitution and of the early national period.- Life :McDonald was born in Orange, Texas. He...
. McDonald in We The People: The Economic Origins of the Constitution (1958) argued that Beard had misinterpreted the economic interests involved in writing the Constitution. Instead of two interests, landed and mercantile, which conflicted, McDonald asserted that there were three dozen identifiable interests that forced the delegates to bargain.
Evaluating the debate, historian Peter Novick
Peter Novick
Peter Novick is an American historian, best known for writing That Noble Dream: The "Objectivity Question" and the American Historical Profession and The Holocaust in American Life...
concluded:
- “By the early 1960s it was generally accepted within the historical profession that ...Beard’s Progressive version of the ...framing of the Constitution had been decisively refuted. American historians came to see ....the framers of the Constitution, rather than having self-interested motives, were led by concern for political unity, national economic development, and diplomatic security.”
The Progressive interpretation of the era was largely replaced by the intellectual history approach that stressed the power of ideas, especially republicanism
Republicanism in the United States
Republicanism is the political value system that has been a major part of American civic thought since the American Revolution. It stresses liberty and inalienable rights as central values, makes the people as a whole sovereign, supports activist government to promote the common good, rejects...
in stimulating the Revolution.