Essay on The Influence Of Alexander Hamilton

1545 Words Dec 13th, 2016 7 Pages
This history study will define the important influence of Alexander Hamilton in the formation of the First Bank of the United States (FBUS) in the Washington Administration. Hamilton sought to finance the national debt through the FBUS, which laid the foundation for a federalized system of financing the government. Hamilton served as the Secretary of the Treasury for President Washington from 1789 to 1795. In this capacity Hamilton utilized the FBUS to centralize the government’s financial system in order to establish credit, issue currency, and to pay off the massive debt incurred during the Revolutionary War. During this time, Hamilton encountered fierce resistance from Andrew Jackson and James Madison in opposition to a strong central bank, yet Hamilton’s legacy defines the impact of a government banking in the formation of the Federal Reserve Bank in 1913. In the 21st century, Alexander Hamilton’s formation of the FBUS defines the important influence of his policies in the federalization of central banking policies that are currently utilized in the management of governmental finances. Alexander Hamilton was the first Secretary of the Treasury under President George Washington from 1789 to 1795. Hamilton’s leadership was controversial because of his support of the banking policies of the Bank of England, which had created so much indebtedness for American colonists before the Revolutionary war. After the victory of the Americans, Hamilton continually pushed for the…

Related Documents