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Why did Alexander Hamilton favor imposing high tariffs on foreign goods and creating a...

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jdawg1998 | Student, Grade 9 | eNoter

Posted March 7, 2012 at 11:25 AM via web

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Why did Alexander Hamilton favor imposing high tariffs on foreign goods and creating a national bank?

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

Posted March 7, 2012 at 11:29 AM (Answer #1)

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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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