Why Is Alexander Hamilton Alive

Alexander Hamilton as the United States first secretary of the treasury has contributed a great

impact to the U.S political and economic development. This impact is still alive today. His talent, wit,

brilliance and luck brought him to America. His determination, work experiences and opportunities in

networking with the rich and powerful ended him up as the first secretary of the treasury under

President George Washington's presidency. During that time the United States was in a great turmoil

politically and economically, facing international and domestic debts as a result of the American

Revolution. Bank credit paralyzed financial growth. There was a shortage of a strong currency and

war debt was crushing the nation's

This number

equates to every person in the United States having a debt of about $55,000 and up including children

young and old. There is the never-ending federal spending which rises from Obama care, Social

Security, Medical and Medicaid. If Alexander Hamilton would have been alive today he would not be

surprised with this huge debt. Relative to the American GDP of about $14 trillion, he may consider it

not to be excessive and still a blessing.

The second report was the Report on National Bank in December 1790. This was one of the

most significant contribution of Alexander Hamilton to the emerging American economy during his

time. This report recommended the federal government should be able to sell shares, manage its debts,

loan to the government, and extend credit to businessmen and ordinary people. It also promoted the

creation of a uniform American currency to promote businesses and emerging industries. The Bank of

the United States was started on a $10 million capital. The capital would then be exchanged for shares

that would be sold to the public. The federal government though would still hold one fifth of the

To this day, the treasury had never failed to pay whether on a note, a bond or on a bill.

The third report is the Report on Manufactures in December 1791. This had the goal of

promoting national sufficiency and protection of American industries. High tariffs was designed to

protect the American industry from foreign competition more so breaking Britain's manufacturing hold

of the United States. However, all of these did not just come easily. These sparked a whole lot of

oppositions. Nevertheless, the United states was more stable and stronger in economy when he stepped

down from his post as the secretary of treasury in 1795. Manufacturing makes up only 11% of the U.S

economy today. The U.S is more of a service-oriented economy and not so much on agriculture and

manufacturing as it did centuries ago. However, manufacturing still benefits the service sector which

heavily depends on innovations first imagined over the course of the manufacturing process. The