Final answer:
The central issue highlighting the competing visions for America of Jefferson and Hamilton was their clash over Hamilton's financial program and the federal government's role in the economy, reflecting broader disputes over federal power, economic policy, and foreign alliances.
Step-by-step explanation:
The issue that best exposes the competing visions for America of Thomas Jefferson and Alexander Hamilton is their disagreement over Hamilton's financial program and the power of the federal government. Federalists, like Hamilton, supported a strong central government that would stabilize the national economy, a pro-British foreign policy, and economic policies that bolstered banking and industrial interests. On the other hand, the Democratic-Republicans, led by Jefferson, advocated for a limited federal government, a pro-French stance in foreign affairs, and an agrarian-based economy.
Hamilton's financial program, designed to manage the country's debt and create a stable economic system, was seen by Jefferson and his supporters as overstepping the powers granted to the federal government by the Constitution. This debate over federal versus state powers and the scope of economic development strategies, crystallized the ideological rift between the Federalist and the Democratic-Republican visions for the future of the United States.