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Alexander Hamilton's Fiscal Policy Essay

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Before Alexander Hamilton's great achievements as the first United States Secretary of Treasury America's economy and financial status was on a downward fall. Americans fought in wars that were very costly and still to this day this continues. Hamilton had the responsibility of writing a fiscal policy which turned out to be a major accomplishment of his. The fiscal policy reflected on three major reports; the Report on Public Credit, the Report on National Bank and the Report on Manufactures. I plan to explain these reports as they attributed to the development and historical significance of America's first fiscal policy.
After Hamilton's was commissioned of Secretary of Treasury and within the next two years he submitted some very influential reports that detailed his economic vision and financial system for the United States. In …show more content…

The reason this debt was hanging over the United States was because of the expensive Revolutionary War that they had just been involved in. Referencing the report on National Bank Hamilton’s genius plan recommended the creation of the First Bank of the United States. This First Bank was supposed to establish public credit and improve the power of the national government of the United States of America, also expand the flow of legal tender and national debt through some issuance of federal bank notes. In Hamilton's theory, the bank would hold government funds, manage its debt, and loan this same money back out in hopes to help in the recovery from the financial burdens the US held. This Bank would also help to "stimulate the economy" (Cowen, Wright, 2006).
The last report that was reflected by Hamilton's fiscal policy was the report on manufactures. In this report on manufactures, the US, was encouraged to protect infant Industries that would promote national self-sufficiency to improve national wealth and

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