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Checkpoint Hamilton's Financial Program

Checkpoint Hamilton's Financial Program

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Published by Jessica L. Burke

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Published by: Jessica L. Burke on Jun 12, 2011
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07/27/2011

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CheckPoint: Hamilton¶s Financial Program y Write a 150- to 200-word response answering the following questions: o o What is the significance of Alexander Hamilton¶s financial program? How did Hamilton¶s financial program play a role in the creation of a two-party political system?

Alexander Hamilton was appointed the first secretary of treasury in 1791. His job was to report the national finances to congress. Alexander developed a plan which is now called Hamilton¶s Financial Program. The program was designed to shore up the nations finances and to ensure the continued strength of finance. Alexander¶s plan had two main goals. The first was to use the power of the federal government to make the United States strong economically and independent from Europe through commerce and national manufacturing. The second main goal was bringing the states together under the one central government bank by using a new system and new taxes. Alexander Hamilton was aiming to use the central government to pay the debts of the states from the Revolutionary War. Alexander wanted to strengthen the idea of a national bank further by asking that it be called the Bank of the United States. The federalist part fully supported Alexander Hamilton¶s financial program yet the Republicans did not. With the help of the national bank it allowed the country to get out of decades of inflation.

References

Davidson. (2005). Nation of Nations: A. The McGrawíHill.

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