Alexander hamilton served as the first secretary of the treasury he is credited with putting the new nation on a sound financial footing in his first two years as secretary of the treasury, he organized america's finances,and established a national bank. Alexander hamilton's economic plan involved setting up a national bank, taxing individuals and the federal government assuming the entire national debt, including the debt of each individual state he also wanted the country to turn more toward manufacturing and industry than farming, which was the current way of life during that time. Hamilton proposed a remarkable set of policies for handling the debt problem all debts were to be paid at face value the federal government would assume all of the debts owed by the states, and it would be financed with new us government bonds paying about 4% interest.
Finally, hamilton's economic policies established a model of a central government that worked creatively, positively, and effectively to unleash the nation's economic energies for the next two centuries, hamilton's model would influence the development of the federal government as an integral part of american capitalism. Hamilton's financial rules bolstered the essential government and he helped institute the financial employer of united statesa through fact hamilton became between the 1st united states presidents, maximum of his artwork became fairly to hold the country jointly and strengthen a reliable inner economic gadget.
Hamilton's financial plan alexander hamilton is one of the few american figures featured on us currency who was never president he was killed in 1804 in a duel with aaron burr. The aspect of hamilton's financial program that received the least support in congress, because of its heavy agricultural and commercial interests, was a protective tariff the political party of the outs that provided the loyal opposition to the party in power in the 1790s was the. Describe and explain alexander hamilton's financial program 1 educator answer explain alexander hamilton's financial plan including what he proposed, and why he proposed it. What was alexander hamilton s three part economic program and why was it controversial throughout the history of the united states of america, there are so many events, key moments and individuals who helped shaping america into what it is today.
This page is part of a larger companion site to a pbs documentary based on the duel with aaron burr that ended alexander hamilton's life it gives a good recap of hamilton's biographical vitals, but its real strength is the detail with which it recounts the scandal that led to the duel. Alexander hamilton by william j weaver the hamiltonian economic program was the set of measures that were proposed by american founding father and 1st secretary of the treasury alexander hamilton in four notable reports and implemented by congress during george washington 's first administration.
Hamilton believed that the constitution gave us the power to make that were necessary to execute its responsibilities he argued that it created implied powers, which are duties that are not specifically mention in the constitution, but are necessary for the us to perform its duty.
There are actually 4 parts to alexander hamilton's economic plan and they were assumption of debts- gradually pay off debts. Start studying alexander hamilton's 3 step plan learn vocabulary, terms, and more with flashcards, games, and other study tools. Although this is a subjective question, many would argue that the excise tax was the most controversial part of hamilton's economic program, for two reasons.