The Role Of The American Economy In The 1790s

Decent Essays
Hamilton provides a remarkably modern economic observation based on investment, industry, and expanded commerce. Most strikingly, it was an economic sight that had no place for bondage. Before the 1790s, the American economy North and South were personally tied to a trans-Atlantic system of bondage. States south of Pennsylvania depended on workers labor to produce rice, tobacco, cotton, and indigo. The northern states organize their most beneficial trade with the worker colonies of the West Indies. A member of New York's first antislavery society, Hamilton wanted to regenerate the American economy away from bondage and colonial trade.

Related Documents

  • Improved Essays

    Alexander Hamilton was the Secretary of treasury from 1789 to 1795; Hamilton had great foresight with his aspirations on how to solve the national debt. There were a few people that didn’t support Hamilton’s plans and some of his loudest opposers were James Madison who at one time was his protégé and fellow Congressman Thomas Jefferson. Alexander Hamilton was interested in raising revenue for the new federal government, he was a believer in capitalism and he was steadfast in his belief that he could help turn America into a power nation. One of the first and most logical was raising the tax on imports. After his success with raise in tariff, Hamilton presented to Congress an outline of programs that could help further bolster the government’s…

    • 580 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Unit 4 - 1 America became isolated from Europe in the years that followed the War of 1812. They needed to strengthen the United States economy to protect itself from outsiders powers. Politicians and citizens use these views to form the “American system”. this system was designed to keep American Goods in America.…

    • 387 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    Dbq Atlantic Sugar Trade

    • 1365 Words
    • 6 Pages

    “Money has never made man happy, nor will it, there is nothing in its nature to produce happiness. The more of it one has the more one wants.” Although Benjamin Franklin wasn’t thinking about the economics of the Atlantic Sugar Trade when he said this quote, it does reveal several key ideas during this time, such as the desire for profit, that influenced the decisions and eventual outcome of this trade network. The back and forth relationship between the core and the periphery was the basis of the Atlantic Sugar Trade. Shown through seven documents, ranging from the perspective of the core and the periphery, to a painting and a population chart; both sides of this issue about the sale of sugar are represented.…

    • 1365 Words
    • 6 Pages
    Improved Essays
  • Brilliant Essays

    In this book, Barbara Solow describes the formation of the Transatlantic slave trade in the context of economic forces that created trade between the old world and the new world. Solow argues that slavery is inherently tied to the rise of capitalistic ideology, as it allowed for the utilization of slave labor to create profit from the abundance of new land discovered in America. Thus, Solow sees slavery as a critical aspect maintaining the system of Atlantic trade, as it enabled profitable European imperialism in the New World.…

    • 1218 Words
    • 5 Pages
    Brilliant Essays
  • Improved Essays

    The 1790’s in America was an exciting time, as well as an uncertain time, for a blossoming country. America was dealing with the growing pains of a new country. Some of the issues facing America in the 1790’s will be discussed. America had to deal with problems at home, such as the election of 1796 and abroad, such as the XYZ affair. The XYZ affair, proved to the rest of the world that America was not to be taken advantage of, and taken seriously.…

    • 593 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    I strongly agree with Hamilton’s idea on the balancement of the economy; agriculture, trade, finance, and manufacturing. I agree with Hamilton wanting the economy to be balanced like this because the trade will help form alliances with other countries that we need products from. Hamilton also wanted to give trade, finance, and manufacturing government aid. Giving government aid to trade would make the trades more efficient because the ships would be able to travel further to bring back other products needed as well as give products to other countries. Although Jefferson had really good points in who should govern, how the government should be structured, and the economy, I still agree with Hamilton the most.…

    • 460 Words
    • 2 Pages
    Improved Essays
  • Decent Essays

    The "market revolution" is a term used to describe the expansion of the marketplace that occurred in the 1800s in America. The construction of new roads and canals connected communities together for the first time. The success of the Erie Canal helped to pour millions into transportation networks that encouraged economic growth. The market revolution brought greater opportunities to some artisans, entrepreneurs, and farmers. Manufacturers and farmers adopted this new method of the Market Revolution, which accumulated wealth.…

    • 154 Words
    • 1 Pages
    Decent Essays
  • Improved Essays

    In “The Hamiltonian Miracle,” John Steele Gordon argues that Alexander Hamilton was an economic genius as his impressive policies for funding the newly formed federal government and establishing a central bank laid the foundation for America’s national economy. Gordon, a specialist in business and financial history and a contributing editor to American Heritage, has authored several books as well as published many articles that are featured in well-known magazines and newspapers. Gordon claims that Hamilton’s foresight, brilliant policies, and knowledge of public finance significantly helped shape the American economy. In fact, Hamilton’s expertise and intelligence helped save America from financial ruin. Therefore, Gordon glorifies Hamilton’s…

    • 1167 Words
    • 5 Pages
    Improved Essays
  • Great Essays

    A Review of The Economy of Colonial America The Economy of Colonial America by Edwin J. Perkins is a detailed look into the economic and everyday situations experienced by Americans of the colonial era. Perkins uses many modern comparisons, along with comparisons to other parts of the world, in an attempt to describe the economic lifestyle of colonist.…

    • 2587 Words
    • 11 Pages
    Great Essays
  • Brilliant Essays

    In the 1790’s the domestic affairs were twisted as the politics and policies in Americans were transform by both domestic and foreign affairs during the 1790’s while domestics affairs were the more powerful. Oakes, J.: Of the people: a history of the United States. Oxford University Press, New York (2014). American Required officials to classify themselves with either republicans or federalists. The reason it intertwined with domestic affairs is by the manufacturing in 1790’s as in Jefferson would be the one who would deal with foreign diplomacy.…

    • 167 Words
    • 1 Pages
    Brilliant Essays
  • Decent Essays

    As our first Secretary of Treasury, Alexander Hamilton conducted a financial plan to help our nation’s economic problems. He proposed three steps to improve the nation’s economy. First of all, we will pay off all the war debts. However, Hamilton needed the central government to pay off the war debts of the states. Nonetheless, sectional contrasts emerged over reimbursement of state debts.…

    • 242 Words
    • 1 Pages
    Decent Essays
  • Improved Essays

    In this paper I will discuss the way that war and economics have shaped the the development the United States. I want to focus on the two to three main points of history in each topic. On the economic side of things, I want to discuss Colonial America, Slavery, and The Great Depression. On the war side of things I want to discuss The Revolutionary War and The Civil War. Now there are more topics that I could dive into, but I would like to focus on some of the events and not all.…

    • 736 Words
    • 3 Pages
    Improved Essays
  • Great Essays

    North Economic Growth

    • 1410 Words
    • 6 Pages

    In The Economic Growth of the United States 1790-1860, Douglass Cecil North examined the development of the nation’s economy. This book was meant to be a study in both economic growth and the economic history of the United States. North told his story of the United States shifting from a national economy centered around foreign trade to one centered around interregional flow of capital and goods bringing the United States’ economy into the larger context of an Atlantic one, North began his book by focusing on broad economic theory rooted in rhetoric in order to set up his argument for American growth. He argued, “The successful economy grows because the initial developments from the export industry lead to a widening of the export base and…

    • 1410 Words
    • 6 Pages
    Great Essays
  • Improved Essays

    Michael Vipond Mr. Haindfield APUSH 1 November 2017 Unit 6 Reaction Paper In the 1780s and 1790s, Thomas Jefferson and Alexander Hamilton had vastly different ideas on how the economic future would be for the United States. Both of them envisioned a prominent nation, but with both different ideas on how to get there. Despite Jefferson’s view of a future of agricultural economy, which was based on farming, no national bank, and strong state governments; Hamiltons view of an industrial economy, which was based on manufacturing, a national bank, and a strong national government, prospered. The extent in which each of their visions affected the United States were reflected by strikes done in the labor work force, the repeal of the national bank by Andrew Jackson, and the growing number of textiles in the U.S. between 1810 and 1840.…

    • 1015 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    The 1790’s to the 1840’s was a period where the colonial people had a chance to revolutionize the very way of their living. They did this throughout many different ways, some unsuccessfully, but the majority impacted the people in a substantial way. The way these people would live their lives depicted the way they were looked at. Although, there are many different ways the people’s lives would change, house advancement, travel and music were the most prominent. “There is more travelling in the Unites States than in any part of the world, “commented a writer in a Boston newspaper in 1828.”…

    • 767 Words
    • 4 Pages
    Improved Essays