Hamilton's Financial Plan Essay

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When George Washington was the President of the United States in 1787 to 1797, he made decisions that would change America for the future to come. After the revolutionary war, Washington didn’t want any more wars, and wanted to remain strictly neutral. By doing this, he refused to enter any conflicts with Europe. During this time, the French revolution and Napoleon was causing major destruction in Europe, and the French people looked towards America for help. The American people were divided by this, some opposed the radical turn, and others remained Francophiles. Although the Americans collectively did not like the idea of being neutral. They wanted to help the French because during the Revolutionary war, the French aided the Americans. A …show more content…
In the beginning, Hamilton 's major goal was to have the national government pay interest on all of the bonds and assume all state debt left over from the Revolutionary war. To do this, he proposed a plan for the Southern states to pay off the debts. The Southern states did not agree with this. Since they had large plantations that brought in millions of dollars of revenue each year, the southern state governments already paid off the debts. Hamilton made a deal with the South, if they pay off the debt of the Northern States, the North would build the country’s capital in the South. The South agreed, and Washington DC would be built. To strengthen the national government, Hamilton proposed tariffs be placed on particular items, which would be used as the government’s main source of income. To encourage business and enterprise, he proposed a national bank which would be used to deposit revenue and take out loans. Out of all of Hamilton’s proposals, this was the one that people disagreed with the most. Strict constructionists, people who believe if the constitution doesn 't take that you have the power, than you don 't. The strict constructionists stated that Hamilton did not have the right to make a federal bank. This problem was fought over for many months, before George Washington passes the bill that created the Bank of the United States. One failure of Hamilton’s financial plan was the Whiskey Rebellion. Hamilton placed a tariff on whiskey, and the people in the west rebelled against the government. The success of the Bank of the United States was tremendous, it established good credit and strengthened the influence of the national government. The economy of the United States only became better from this point. Hamilton was one of the most influential people in American history in terms of finance. A quote from the

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