How did the economy develop under the guidance of Alexander Hamilton

2 answers:

7 0

Alexander Hamilton was appointed as the first ever secretary of Treasury by President Washington. He changed and largely developed the economy by proposing a National Bank among other things. He encouraged nationalism and production within America. Debts were to be paid off whether they were domestically or internationally from the war and war bonds. Hamilton got acts passed for paying off foreign debt, redeeming domestic debts, assuming the states debts (since many states before the Constitution did not pay the federal government) and increasing tariffs. He also had a tax on distilled drinks (like whiskey) processed in Congress. (Excise At of 1791) I hope that helps.

Advocard [28]3 years ago

3 0

Hamilton was part of the federalist era, and believed in using force against rebellion. Under Hamilton, the U.S. economy developed well as he helped America grow into an industrial power. Hope this is useful.

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