1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Minchanka [31]
2 years ago
7

What were the 4 parts of Hamilton’s plan and how was it received by American society?

History
1 answer:
lilavasa [31]2 years ago
8 0

Alexander Hamilton was the United States’ first secretary of the Treasury, serving during George Washington’s administration. Hamilton was never president, but he made significant contributions to the financial system of this country. These contributions gave Hamilton a prominent position in history. He also has the distinction of being featured on United States currency even though he was not a president. Many of the business solutions that exist today, including modern credit card processing, are in place as a result of the contributions of Hamilton.




Hamilton had inventive financial ideas. After the end of the Revolutionary War, many states carried debts that they were not repaying. The value of these public securities was nil, but Hamilton had a solution. He proposed that the federal government repay all of the state debts at their full value. This repayment would be an effective way to legitimize the federal government. The means of financing the repayment involved issuing new security bonds to investors. These investors were excited about making significant profits. Hamilton was also instrumental in the creation of a national bank and a centralized currency.

Hamilton’s plan for the new country’s financial system had three major parts. Assuming the states’ debts by issuing interest-bearing bonds was the first part of the plan. Hamilton also instituted tariffs for imported goods as a way of raising federal revenue and helping domestic businesses. With the establishment of a new national bank, Hamilton created a way for the United States to hold funds and use securities as capital to encourage future growth.


The Hamiltonian Economic Program consisted of Hamilton’s proposals set forth during his time serving as secretary of the Treasury. Hamilton created three different reports that outlined his program and proposals. The reports were the First Report on Public Credit, the Second Report on Public Credit, and the Report on Manufactures. Congress implemented Hamilton’s economic program.



The First Report on Public Credit included analysis of the financial standing of the United States. This report made recommendations about reorganizing the national debt and establishing public credit. The report contained 40,000 words, with a focus on assumption of state debt from the war and redemption of government securities. Congress debated the proposal, eventually reaching a compromise in 1790.


The Second Report on Public Credit is sometimes called the Report on a National Bank. In this report, Hamilton proposed the creation of a central bank for the United States. By issuing federal bank notes, the country could increase the money supply. Hamilton’s vision of the bank involved creating a stable financial system for the new country.


The third report was the Report on Manufactures. This report focused on encouraging manufacturing with subsidies to various industries and by regulating trade with tariffs. The purpose of the tariffs was to raise revenue for the new government. These tariffs would also help encourage domestic manufacturing, which would help the country’s economy grow internally. The subsidies would also support manufacturing without affecting supplies or causing prices to increase.



You might be interested in
On which point did some Protestant sects differ
iragen [17]

they rejected the authority of papacy

4 0
2 years ago
Read 2 more answers
Imagine that you are a newspaper editor during the Wilson administration. Write an article on the shortcomings of the Progressiv
SCORPION-xisa [38]

People often write articles for different reasons. The article on the shortcomings of the Progressive movement in terms of racial issues is written below.

<h3>The shortcomings of the Progressive movement</h3>

The Progressive Era was one that existed from the year 1900 to 1918. Ths kind of era was one where there was the movement to address social, economic and political problems as  sin the U.S.

The  reform in this era was one that did not handle the issues, problem or the plight of African Americans. One common example is that due to racism, African Americans were not allowed to attend school with other white students. Another is that African Americans cannot buy a house in a certain neighborhood, due to color of their skin.

The Progressive movement is one that is said to be different for immigrants and the minorities. The immigrants and minorities were said to have different kind and forms of racism.

They were said to be forced to replace their foods and customs with that of the Protestant practices and values. The way the issue can be handled is by law. Government should make law that cancel discrimination and segregation and also the public should be sensitized that everyone is equal and one should not discriminate.

Learn more about  Progressive movement from

brainly.com/question/1094984

4 0
2 years ago
Describe Rome in the 1400s and the problems the city was having
Veronika [31]
The answer to that problem would be: <span>0.1875</span>
4 0
2 years ago
Which of the made the Hebrew religion unique in the ancient world ?
Bad White [126]
One of the main tenets of ancient hebrews was the idea of one God. Most religions of the day believed in many different gods. However, the first tenet of the jewish faith was " thou shall have no other Gods before me."
6 0
3 years ago
How did the transcontinental railroad affect the early history of the suffrage movement
cricket20 [7]
It blocked other people from coming in to the land 
4 0
3 years ago
Read 2 more answers
Other questions:
  • Congress cannot
    11·2 answers
  • NEED HELP ASAP! 20 POINTS!
    10·2 answers
  • Where and when was Adolf Hitler born? Please I need help ASAP will mark first answer Brainliest
    14·2 answers
  • Theodore Roosevelt's boast that he "took the Canal Zone" indicated that he had
    12·1 answer
  • Why were europeans less vulnerable to most diseases than native americans?
    7·2 answers
  • What were the domestic issues and policies during Thomas Jefferson's presidency??
    13·1 answer
  • What is one reason Document B would be a reliable source to understand what happened when Moctezuma met Cortés?
    13·1 answer
  • Which of the following is evidence that the Greek influenced later civilizations?
    5·2 answers
  • The Indian Removal Act sought to relocate which tribe west of the Mississippi River?
    8·1 answer
  • Theresa wants to be more active in her local government. Which of the following is NOT a way Theresa can be more active in local
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!