When Alexander Hamilton was appointed by George Washington as Secretary of Treasury, he created a financial plan that he believed would allow America to prosper. His plan consisted of 3 parts. He wanted to have national debt, to create a national bank, and to expand American manufacturing. Hamilton wanted to gain large amounts of money for the government by taking out loans of wealthy Americans, British and others who would be willing to loan money at a reduced rate. The government would be receiving a massive amount of cash, and as a result, they would be paying back the loans over long periods of time. He also proposed that the federal government pay off all state debts (which emphasized the idea of a central government). The northern states