Ap Us History Dbq Essay

Hamilton knew that the government needed the ability to borrow money. (Bowen 67) He therefore asked the Federal Government to pay back the bonds in full that they issued during the Revolutionary war so that wealthy merchants would have the confidence to lend money in the future. Although this was an important step in financing the government, Hamilton argued that the government still needed a bank to manage its debts and interest payments. He is mostly known for his decision to create this First National Bank. The bank would manage its debts and interest payments by providing a currency and collection of taxes. The Necessary and Proper Clause of the U.S. Constitution gave congress the permission to pass the bill in 1791, opening up the First National Bank of the U.S. The contributions that Hamilton made during his term as Secretary of Treasury made him a very triumphant and remembered leader of the Federalist Party.

The states were in huge national debt to foreign nations and influential private citizens. Wealthy Americans and foreign nations loaned money to America for the Revolutionary War that summed up to about millions of dollars. Alexander Hamilton, the Secretary of Treasury, was in charge of strengthening the national government. Hamilton introduced the idea assuming all debts. This caused the Southern States to be enraged because most of them had already paid off their debt, and did not want to pay taxes to pay off the debt of Northern States. The states did not pay the taxes because the Articles of Confederation could not tell the state what to do. Alexander Hamilton proposed a Bank of America that would collect taxes and would be funded by U.S.

Although the Jeffersonian beliefs of strict construction and the inherent efficiency of capitalism allow for short term economic gain due to the minimal inefficiencies in the market and political system, the Hamiltonian ideologies of a strong central government and bank (more here? And implied powers), especially regarding the state of the United States economy at the time, are more effective in increasing long term economic growth and the quality of life of the nation’s citizens. However, a balance must be struck between the two polar principles in order to control inflation and maintain long term economic growth, which includes eliminating tariffs but installing subsidies that target specific markets and restraining the overexpansion of credit.

After the American Revolution, the American economy was in financial chambles because of the debt that was created due to the war. Under the new constitution, Alexander Hamilton was appointed as the secretary of the treasury. Knowing the repercussions of how national debt would prevent America from earning the status of a world power like Great Britain, Hamilton urged for a bold proposition that would pay the debt at face value which was highly effective since the debt was paid fully almost two decades later. That was part of his 3 reports that would help the american economy. The institution of a national bank was the second report, he wanted to create a influx of the money supply by issuing out federal bank notes. His final report was about raising government revenue and was established by placing high tariff on imported goods to ensure the stable stream of income for the federal government and to boost the growth of the American

To begin with Alexander Hamilton was assigned as secretary of the treasury during washington’s first cabinet. One of the problems the new government was facing, economy. The person assigned to the task of solving this problem was this 32 year old man named Alexander Hamilton. He was known as one of new york's most influential attorney and played a leading role. Hamilton believed that the federal government should wield considerable power in order to steer a successful course. His plan to what he had proposed was to refinance the old debts by borrowing new money at a lower interest rate. Hamilton had also promised to support locating the national capital on the banks of the potomac river. His debt program was a

When Washington came to power in office , the thirteen states were not united and were known as an independent nation, they were later united under one power and renames the United States of America. Washington increased the power of the United States by the Federal government and using The Judiciary Act of 1789 to establish our Court system. Money problems were fairly common in the war for independence, as the problems arose Washington sought help from Hamilton. The United States owed quite a bit of money to foreign nations and also owed more than $ 40 million to its citizens. Hamilton devised a plan to create the first bank of America. The bill passed congress and was later signed by Washington. The first bank opened in 1791, those in favor of the bank were known as Federalists, while the people who disagreed with the formation of the bank were known as the Democratic Republicans. Hamilton later thought of a plan to increase revenue and pay of part the debts the young nation acquired. He created an excise tax on whisky. Washington’s domestic policies expressed little patience for anti-taxation protests. In 1791, Congress passed the first internal revenue law, placing a tax on spirits which ended up leading to a rebellion by Pennsylvania farmers in 1794 known as the “Whiskey Rebellion”. A militia force was raised and led by Washington himself to end the

The congress had set up 3 different departments in the summer of 1798. Washington had helped the congress make the laws for the government. They made promises during the war and they had to make amendments to carry them out. Hamilton created something that would pay off all of the dept. He believed that his plan would help the government. The plan also caused a lot of protesting. He worked with others to make his plan work. Hamilton then asked the congress to build a Bank of the United States.

“Hamilton’s dedication to fix america came from his term as secretary of treasury.”(Freeman, Joanne B.). When Hamilton was secretary he was given a large task that could have decided his future. “Given the enormous task of bringing order to the nation's disordered finances, he forged a national financial infrastructure through a combination of administrative organization and bold policies. (Freeman, Joanne B.) Hamilton always had a plan which made him ready he should be honored for how quick witted he was and his speed at solving problems. Hamilton wanted to establish a national bank for america to fix its financial problems. Hamilton did build a system for America, “ He established the Treasury Department, dealt decisively with the nation’s financial crisis, put in place a financial system that remains in the early twenty-first century, and sketched out a plan and justification for the encouragement of manufactures.”(Diarity, William A) Hamilton knew what to do he fought for his plan and he made it a reality. Hamilton’s ideas are around to this day he made America better financially for the

The argument between Federalists and Anti-Federalists might seem long gone to American citizens, but still their philosophical foundations shape the teams, scope and size of the battlefield. These philosophies go back to two lone men, Alexander Hamilton and Thomas Jefferson. Both fought aggressively for a government based on their ideas, and both did make portions of the now-standing American government. This essay will outline the political, social and economic philosophies of both men, how their philosophies influenced the government today, and a closing opinion.

The NYPL said that as Hamilton was the first Secretary of the Treasury under President George Washington, “he created the Bank of the United States and the Bank of New York”. Some of today's banking and economic systems were originally drawn out by Hamilton himself. Because of his impact on the economy, Hamilton’s face has been on the $2, $5, $10, $20, $50, and $1,000 bills, and he has appeared on American postage since 1870. Hamilton also “organized the Coast Guard”. And in addition to the Federalist Papers, “he started a newspaper--the New York Evening Post”. He protected the fledgling American government through his writings, his mathematical skills, and his passion for independence from oppression. Taking a Stand in History with Alexander Hamilton said that Hamilton was successful in causing America to become powerful both nationally and

Alexander Hamilton, the father of the American treasury system, a signer of the Constitution, one of the essential authors of the Federalist Papers, the man on the ten-dollar bill, and the failure of the infamous fight with Vice President Aaron Burr. This influential person made huge impacts of the American economy. Hamilton believed that what the United States needed was stability and order to progress as successful nation. By showing this action, he was able to reach those goals through the American State Papers, which highlights selections that includes: First Report on Public Credit, Report on National Bank, and Report on Manufactures. Each report was focused on specific subjects that America needed help on.

Alexander Hamilton had immigrated to America and made a bigger influence than most natural born founding fathers. Hamilton joined the patriot army at a young age, and was quickly noticed by George Washington as a natural leader. Eventually, Washington chose Hamilton for his cabinet as the first United States Secretary of the Treasury. As Secretary of the Treasury, he devised a five part plan to replenish the economy and remove debt from Britain. By being Washington’s right hand man, Hamilton influenced America’s government and economy into methods that are still used in present day government. Through his documents, such as The Federalist Papers, Hamilton portrayed his passion for a unified country. His writings led to the ratification of the Constitution. Coming from his federalist perspective, Hamilton agreed that a centralized government with a national bank and notions for a manufacturing powerhouse would be beneficial for the country. He also saw that America should be mercantile, or very involved with world trade, especially with Britain. Unlike his counterpart, Thomas Jefferson, who believed otherwise. This caused altercations between the two. Along with his strong affirmations and opinions, Hamilton’s role in the early republic played a big part in colonial history.

In early 1790, Alexander Hamilton presented an idea that initially established the National Bank. While Hamilton’s plan was the best solution to the financial difficulties the United States faced, it received a large amount of criticism. Thomas Jefferson vehemently objected to Hamilton’s proposal mainly regarding the constitutionality of the National Bank. In this paper, I argue that Alexander Hamilton’s proposal for the National Bank was better than Thomas Jefferson’s because it created a path to a self-sufficient economy, potential for a thriving economy, and expanded the interpretation of the Constitution.

Alexander Hamilton was appointed to handle all financial matters, becoming the secretary of treasury he came up with plans to change the country’s economy. One of those consisted in not paying in full the country’s $52 million dollar debt after the war, instead he insisted on making the country worthy of credit and adding $25 million to the debt that they already owed. (Michael Johnson)This brought controversy as some of the states had already paid their debt in full and considered unfair to add this extra debt. Surprisingly, his debt program achieved foreign investment and was a success to fix the debt issue in America. To create the Bank of the United States, was another one of his proposals, people within the government like Madison argued

Alexander Hamilton also served as the first United States Secretary of the Treasury. He was in office from 1789 to 1795 and used his time to implement his pro-industry fiscal program. The Federalist that he was, Alexander Hamilton believed in a strong central government, and thus he suggested that in order for the country to pay off it’s debts accumulated during the revolution, that they should create a national debt that would assume all of the states’ debts. In order to bring in the massive revenue the government would