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Unformatted text preview: Hamilton did not begin practicing law right away, however. Instead, he focused his energies on the national financial crises. The fledgling United States faced a plethora of financial hardships. To begin with, war debts had accumulated, and under the Articles of Confederation, which set the guidelines for the government of the United States at the time, Congress did not have the power to forcibly collect taxes from the states to raise money. Some states acknowledged Congress's requests, but others did not, and there were several types of currencies circulating throughout the country. Congress had its own currency, as did some individual states, and even some private banks printed money . Inflation was terribly high as well. In 1781, Hamilton proposed to Robert Morris, Congress's Superintendent of Finance, that a national bank should be created to...
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- Fall '08