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How Did Alexander Hamilton Affect The Economy

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Alexander Hamilton Alexander Hamilton was born January 11, 1755 in Saint Kitts and Nevis. He was sent to America for an education. He worked hard and enrolled at King’s College, but left without a degree. He married Elizabeth Schuyler a daughter from a wealthy family. George Washington appointed Hamilton Secretary of Treasure. Alexander Hamilton created many things from banks to newspapers that positively impacted the economy to make society better with a more efficient way of doing things. George Washington selected Alexander Hamilton to be the first Secretary of Treasury. Alexander Hamilton formulated fiscal policies and improved the financial stability. He helped With the financial problems and taxation during the Revolutionary War. Alexander Hamilton was confronted by a financial crisis in 1792, the price of securities began to go up and eventually crashed in March. Investors started to withdraw their money from their banks and Alexander Hamilton helped to solve the crisis. It was hard for Hamilton, but he kept persisting on doing it again and again even if they said to stop trying. Also Alexander Hamilton along with James Madison and John Jay wrote 85 essays to persuade the delegates from New York State to ratify the newly written U. S. Constitution or warning of the dangerous powers given to the proposed national government. The Federalist Paper were published in different New York Newspaper between October 27, 1787 and August 16, 1788. …show more content…

The financial system allowed trade of funds between lenders, investors, and borrowers. It operates at national, global, and firm-specific levels. It made economy more organized.Hamilton also served in the Rev. War. Hamilton commissioned as captain of New York provincial artillery company. He was appointed aide-de-camp by George Washington. He was promoted to lieutenant colonel. He commanded successful bayonet assault on British Redoubt Number 10 at battle of

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In the 1790s, the first Secretary of the Treasury, Alexander Hamilton and fellow Federalists wanted to protect the United State's economic future through several different means; namely, the creation of a national bank, maintaining good financial credit, and by developing a lasting economic system. The United States was in turmoil, still rebuilding from their recent detachment from Britain. The United States government was in shambles, its economy arguably in an even worse one. It was for that reason that president George Washington elected Alexander Hamilton to develop a sound economic plan for the United States. Hamilton and his fellow Federalists had many ideas for improving the economy; however, the Republicans or Anti-Federalists, were disinclined to agree with their federalist counterparts due to opposing views on government authority.

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Fourth, Alexander Hamilton played a detrimental role as the first Secretary of the Treasury. After, George Washington became the first President of the United States he appointed Hamilton as the nation’s first Secretary of the Treasury. Being the first of this title he became the “architect of the structure of the department.” Single-handedly, he created the position and helped to decide how much power this new position was able to wield. By designing this position, he gave America a leader in financial and economic issues relating to the government.

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Why Did Alexander Hamilton Sign The New Constitution

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However, Hamilton, our first secretary of state, Thomas Jefferson usually never agreed with each other, but that didn’t stop Hamilton to create our first National Bank that was submitted on December 14, 1790. Unfortunately, not everybody liked Hamilton’s ideas because in 1804 Hamilton had died. (“Alexander Hamilton”). After Hamilton's death in 1804, Jonathan Dayton who was elected a seat in our first Congress, he still supported “Hamilton’s financial program” and was “pressed for suppression of the Whiskey Rebellion” (“Jonathan Dayton”). In the end, Hamilton showed leadership by creating our first National Bank, fought in our war like Odysseus fought for his men on his journey home from the Trojan, and wrote two-third of our new

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The whiskey rebellion was a protest by many Americans who were against the new law that taxed whiskey. This law was put into place in 1791. The United States government was in debt from the war and they decided that taxing whiskey would slowly start eating away at Americas debt. George Washington was in his second year of presidency during 1791 although he wasn't the mastermind behind the whisky tax. Alexander Hamilton was the man behind this idea because he realized that Americans needed to do something to get out of their nearly eighty million dollars in debt they had accumulated from the war.

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Hamilton was born in 1755/1757 in the island of Nevis, in the British West Indies, to James Hamilton and Rachel Fawcett Lavine to which his father some years later would abandon his older brother, mother, and himself and leave them in destitute. Alexander Hamilton’s mother died shortly after his father’s abandonment. Alexander was later shot by Aaron Burr in 1804. He went to King’s College after he

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Hamilton wanted to create public credit with a treasury system, a national bank, a mint, and increase manufacturing which would help unify the country. On the other hand, there was Jefferson, who opposed a strong central government. He argued that the “wealthy would gain at the expense of ordinary Americans and that Hamilton’s political economy would corrupt the morality of citizens and undermine the social conditions essential to republican government”(Powerpoint). The country would opt for an approach closer to Hamilton’s views. One of the first acts was the National Banking Act.

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961 Words | 4 Pages

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