Alexander Hamilton's Economic Reports
Not what you're looking for?
Provide an explanation of Alexander Hamilton's economic programs during the Early Republic.
Purchase this Solution
Solution Summary
This solution identifies and explains the purpose of Secretary of Treasury Alexander Hamilton's plans.
Solution Preview
<b>Alexander Hamilton's Financial Program</b>
<br>The new government under the Constitution faced the urgent problem of how to organize its finances. Alexander Hamilton, first Secretary of the Treasury, issued reports on public credit and manufacturing. He urged Congress enact the following:
<br><b>I. Payment of Debts</b>
<br>A. According to the constitution, the new government assumed responsibility for all debts contracted by the central government during the Revolutionary War and under the Articles of Confederation. Hamilton recommended:
<br>1. Full payment of the domestic debt: government bonds and certificates held by Americans. Hamilton proposed that this debt be "funded," that is, all old bonds and certificates be exchanged for bonds issued by the new government.
<br>2. Full payment of the foreign debt: loans extended by our Revolutionary War allies - France, Spain, and the Netherlands.
<br>3. Assumption of state debts by the federal government, since these debts were incurred in fighting the Revolutionary War.
<br>B. Hamilton ...
Purchase this Solution
Free BrainMass Quizzes
Vocabulary Quiz: Europe
Quiz yourself with basic vocabulary related to Europe! These questions are important for understanding history in social studies.
The Slavery Question in the American Territories
This quiz will test your knowledge about various laws and policies on slavery in the U.S. during the 19th century.
The Transatlantic Slave Trade
Basic quiz about the Transatlantic Slave Trade.
Native American Removal
This quiz covers the history surrounding the Indian Removal Act of 1830.
US World History Test II
Major Events from 1452 to 1877