Describe and explain Alexander Hamilton's financial program.

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

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After the Constitution was ratified and George Washington became president, Alexander Hamilton was instrumental in shaping the US economy as Washington's Secretary of Treasury.  Speaking only of financial matters, his program involved fully paying off the debts the US had incurred during the Revolutionary War and creating a national bank.

Hamilton wanted to do these things because he believed that they would help make investors confident about loaning money to American businesses.  He believed that America needed this sort of investment in order to become economically strong.  (This was in contrast to Jefferson, who wanted an agrarian economy.)  Hamilton also promoted increased tariffs and an excise tax on distilled liquor as ways to raise revenue for the federal government.

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