Hamilton’s Financial Plan - Hamilton’s Financial Plan 1...

  • No School
  • AA 1
  • 2

This preview shows page 1 - 2 out of 2 pages.

Hamilton’s Financial Plan 1. The First Administration a. George Washington is appointed president b. Washington forms a cabinet of advisors i. Sec. of State is Jefferson ii. Sec. of War is Knox iii. Sec. of Treasury is Hamilton 2. Hamilton devises a financial plan that puts the nation on solid ground. a. Consolidates the state debts into one national debt i. Sold bonds with 6% interest to pay off the state debts ii. This united the nation as one behind a consolidated debt iii. Made people take an interest in government 1. That had money invested in it 2. They wanted it to succeed b. Created a Bank of the United States i. Printed a national currency, backed by gold 1. Gave stability to the currency 2. Provided a nationally respected money system 3. Encouraged trade between the states bringing them together financially c. Established a tax on whiskey i. Provided a way to raise money to pay the interest on the bonds ii. Farmers rebelled against this tax - Whiskey Rebellion 1. Government immediately called out the militia and crushed the rebellion 2.
Image of page 1

Subscribe to view the full document.

Image of page 2

Unformatted text preview: Showed that the government had force and had to be listened to d. Protective Tariffs i. Tried to establish taxes on imported goods to protect domestic industries ii. Defeated by Southern Congressmen who wanted the cheaper British goods 3. Two Political Parties Develop a. Federalist - led by Alexander Hamilton i. Advocated loose constructionism 1. Used the necessary and proper clause to increase the power of the national government 2. Wanted the national government to be active and strong ii. Were the most effective at first in getting their policies passed b. Republicans - led by Jefferson i. Advocated What does this reveal about the founding fathers goals? It reveals that they wanted to get the United States out of debt, and that they wanted the states to work closer together. Whose arguments was most correct the federalist of anti federalist. Why? The federalist because they were not as strict as they did not want to follow the Constitution so closely....
View Full Document

  • Fall '19

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask You can ask ( soon) You can ask (will expire )
Answers in as fast as 15 minutes