Hamilton's Financial Program

Hamilton's Financial Program - Through high tariffs...

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The most pressing problems that were facing the government were economic problems because of the revolution. The government was in a huge debt. As a 32 year old and Treasury Secretary, Hamilton designed a financial system that made the United States the best credit risk nation. Then he created the Bank of the United States. A national bank would collect taxes, make loans to the government and the borrowers, and hold government funds. The reports were a plan for central government to pay for the debate incurred by the states during the revolutionary war. These debts would be paid by a system of taxation and would bring the states under one central government bank. For his third program, he proposed to aid the nation’s infant industries.
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Unformatted text preview: Through high tariffs designed to help American industry he hoped to break Britain’s manufacturing hold on America. The Federalist Party was originated on in the ratification debates of the U.S. constitution. The group that was in favor to ratify the constitution called themselves federalists. The argument to ratify the constitution was to have a consolidated government instead of having loose semi- sovereign states. Hamilton designed his programs to win the public to the government and so the people would support the government to develop economically. His diplomatic and financial policies encouraged the foundation of the Republic opposition....
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This note was uploaded on 10/24/2010 for the course HIS/115 his/115 taught by Professor Kitchens during the Spring '10 term at University of Phoenix.

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