The Hamiltonian System Have you ever wondered how political parties were formed? The Hamiltonian system was developed from four principles designed by Alexander Hamilton. The first pillar was a report on public credit. The second pillar was a report on the First National Bank. Pillar three was a report on manufacturers. Finally, the fourth pillar has to do with taxation. The Hamiltonian System has two primary purposes. The system was made of two types of division. It is divided into sections and politics. The Hamiltonian System has formed many great purposes for our country. The Hamiltonian System was developed to help create political parties. It was made up of four basic pillars. The first pillar was a report on public credit. It was created to …show more content…
Not all states have paid their debt, but some states have. The second pillar is based on the report of the First National Bank system. This was known as the first bank of the U.S. It was made to regulate and control currency. It was also an easier way to control banks. The First National Bank will make the currency in the banks become more stable. Business people and private creditors will love this system. The bank will be able to help lend the government money and securely hold the deposits. This will also give Americans a uniform currency. Along with being able to promote business and industry by extending the credit. Next, they have pillar three. Pilar three is about the report on manufacturers. This report had three proposals. The first topic had to do with subsidies. Hamilton said that the government should be paying subsidies to select manufacturers to help them grow or expand. He also brought the idea of protective tariffs. They are designed to keep foreign goods out of the country. The southern planters were not in favor of this idea. They thought that foreign goods were better quality and less expensive. They also force