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The Pros And Cons Of Alexander Hamilton

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The new United States had acquire roughly seventy-seven millions in war debt after american revolution. In effort of trying to develop a new government system, many had concern of giving too much power to the government that may result in tyrant as the king in England. Alexander Hamilton, a bright young man who later became George Washington’s secretary of treasury had a plan. He was the most important guy within the first ten year of the American revolution. Hamilton and James Madison have strong believe in establishing more power to the government is necessary for the new United states. Both men show up at Annapolis Convention in fall 1785 only to be disappointment dealing with weak, inexperience diplomats that were mostly farmers. Madison …show more content…

He envision the new banks and factories will generate more money to the new United States. First, he plans to consolidate both national and state debts and issue a new bond; which is loan given to government. Then issues new bonds. As a new government forms, they has the power to levy taxes on imported goods, whiskey tax etc to fund bonds. Hamilton took great advantage and make use of the new government power to pay off debts. Hamilton then plan for public credit. Credit to sell more bonds to the public. Another deal is struck, Alexander then propose to set up a National central bank for the U.S also known as Bank of United States. The bank would have fiscal agent for federal government. The bank would be a charter corporation that is eighty percent privately owned and twenty percent federally owned. The bank would also have power to issue money backed by the federal government. Hamilton’s third plan is report on manufactures. His economic vision was to build factories to encourage trades with other countries to raise revenue. It will also provide jobs for the people in United States and potentially entice immigrants migrate to United

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