What did Alexander Hamilton's economic plan call for the federal government to do?

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

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Alexander Hamilton's economic plans called for a number of things.  In general, the point of his plans was that the federal government should play an important role in creating a strong national economy.  In order to achieve this, Hamilton called for the federal government to do such things as:

  • Assuming all the debts incurred during the Revolution.  He wanted this to include all the debts that states had run up.
  • Imposing a tariff.  This would get money for the government.  It would also help protect American industries as they got started.
  • Creating a national bank.  He wanted there to be a national bank that could ensure that the currency would keep its value.

By doing these things, Hamilton felt, the government would create a positive environment for business in the new nation.