Reflect on Hamilton's role of being of central importance to economic strength and stability.

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pohnpei397's profile pic

pohnpei397 | College Teacher | (Level 3) Distinguished Educator

Posted on

I assume that when you ask us to "reflect on" Hamilton, you are asking why he was of "central importance" to the economic strength and stability of the US.  If so, I would argue that Hamilton's ideas of assuming the states' debts, of tariffs, and of a national bank did a great deal to ensure that the US would grow into an economically stable country.

By having the federal government assume the state debts, Hamilton ensured that the US would have the ability to borrow money.  This allowed the government to do more things to, for example, create infrastructure like roads.

By setting up a system of tariffs, Hamilton protected infant industries in the US from foreign competition.  This allowed the US to become industrialized.

Finally, the idea of a national bank was very important.  This would allow government funds to circulate and stimulate the economy.  It would also be able to make sure that the currency would remain sound and money would not suffer from excessive inflation.

All of these things were Hamilton's ideas and all of them helped to strengthen and stabilize the US economy.

barrett44's profile pic

barrett44 | (Level 1) eNoter

Posted on

Hamilton's influence on the United State's foreign policy during the Washington (8 years) admin. was also key. Hamilton did not share the extreem hatred toward Great Briton that many other's did. He simply new what was best to fortify the "infant" nation from dying a quick death as it was just starting ... something that, for many reasons, I don't believe would have been prevented had he not been Washington's most important advisor at the time. Alining with England, instead of France, was the most advisable path for the fledgling nation to take at the time... and at times he seemed alone in his understanding of this. He advised neutralty in foriegn affairs ... but in economic and trade situations he clearly knew that England was the "big boy" to get along with.

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