Why did Alexander Hamilton favor imposing high tariffs on foreign goods and creating a national bank?
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Alexander Hamilton favored these things because he believed that the US should develop an economy that was mixed, one that had both farms and manufacturing. He believed that high tariffs on foreign goods would help to bring this about because foreign goods would be kept out and domestic industry could get going. He believed in a national bank because it would keep the currency stable and create a stable business environment in which business could thrive. By creating a good business environment and keeping foreign competition away, Hamilton believed that the government could help a mixed economy to develop. This, he felt, would make America strong.
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