I enjoyed you video on Alexander Hamilton, who was a founding father of the United States of America. Your video had a great design, and the music added some drama to draw a viewer into the presented material. However, to expand on the subject, I would like to talk about Alexander Hamilton’s role after the revolutionary war.
After the revolutionary war, Alexander Hamilton was the first secretary of Treasury, and he was responsible for identifying and solving the national debt crisis. Specifically, Alexander Hamilton was focused on paying national debt that was incurred during the revolutionary war. Alexander Hamilton developed and was responsible for the first national bank of the United States, which was “designed to facilitate the establishment
In this position Hamilton’s main focus was to repay the nation’s heavy debt from the Revolutionary War. He strongly believed that the “debt of the United States… was the price of liberty.”
President Alexander Hamilton's research and economic theories had a significant influence on the formation of the Second National Bank. As the first Secretary of the Treasury under President George Washington, Hamilton played a crucial role in shaping the economic policies of the young nation. Hamilton's economic theories emphasized the importance of a strong central bank in promoting economic development and stability. He believed that a centralized institution could address the challenges faced by the fragmented banking system of the time and provide stable currency and credit facilities for businesses. In his influential "Report on the National Bank" in 1790, Hamilton argued for the establishment of the First Bank of the United States.
After the Revolutionary War, most states went into debt because the finance of the Revolutionary War pushed out the taxes three or four times the level to help wage the war. Most American demanded the relief of high taxes and heavy debt. Alexander Hamilton "instituted a plan to get the brand new nation off on the right foot financially." Hamilton believed in debt because in order to establish credit you must have the ability to borrow in the future. Hamilton also wanted to establish a national bank to unify and stabilize currency called the Bank of the United State.
Alexander Hamilton created many things from banks to newspapers that positively impacted the economy to make society better with a more efficient way of doing things. George Washington selected Alexander Hamilton to be the first Secretary of Treasury. Alexander Hamilton formulated fiscal policies and improved the financial stability. He helped With the financial problems and taxation during the Revolutionary War.
as well as the states, which were very separate from each other in many aspects, so with the creation of a national bank Hamilton sought to address all these issues. The way Hamilton planned to do this was by assuming having the national bank assume the debt of all the states, resolve the concerns over fiat currency that was issued by the continental congress and raising money. So, by doing this Hamilton was not only getting the states to feel invested in the government, but also the speculators since they needed the government to pay off the bonds that were issued, and by paying the money owed to foreign creditors, the U.S. would start becoming a reliable partner; in other words, yes, the national bank was essential, a necessity to the well-being of the
How can a man with such a rocky beginning grow up to change American history? Before his unfortunate death at age forty nine, Hamilton had accomplished what one can only call greatness. Declaring to be born in Nevis in the British West Indies, Hamilton was the product of an illegitimate marriage. However, he never let this status define him, and only sought harder for honor and glory. From high points in his life, such as being the first secretary of the Treasury, to the low points, the Reynolds Pamphlets, this paper will outline Alexander Hamilton's astonishing life.
Alexander Hamilton, the first Secretary of Treasury of the United States, had a lot going for himself being a man that came from poverty to success, and he was a man “all powerful and fails at nothing which he attempts” admitted a congressman in 1791 (Tindall and Shi). Born in the Caribbean in the West Indies, abandoned by his father and orphaned at the age of 13 by his late mother who had died. Later moved to New York, became a lawyer and transitioned to nationalism thus giving him the important role of handling the weight of the debt America had accumulated $54 million deep after the Revolutionary War (Digital History). Hamilton saw the need for some financial credit to be given to America and he had the right idea by proposing a National Bank to his first president George Washington. Word dispersed of that proposal leading a
As Secretary of Treasury, Alexander created the first National Bank. He also created The US Mint. This was where the first American coins were made. While Hamilton was Secretary of Treasury, he helped the government be able to pay its debts. Because of this, European countries were willing to do business with them.
¨A national debt if not excessive, will be to us a national blessing” a quote from Hamilton, the first secretary of the nation's treasury. Alexander Hamilton is an influential figure in history y taking one of the most important stands in American history. (Hamilton). There can be many different ways someone can take stand: a stand for their country, a stand for themselves, a stand for others, a stand for freedom. They all have one thing in common, they all stand for change.
“Alexander Hamilton, a delegate to the Constitutional Convention and major author of the Federalist papers, was the United States' first secretary of the treasury” (Biography.com). From the Revolutionary War to his fatal death, Alexander Hamilton did many things throughout his life and is one of the many people that helped develop the first political party called the Federalists. All of this began on January 11th, on the island of Nevis, in the British West Indies, when Alexander Hamilton was born. The exact year of Alexander’s birth is unknown, but it is estimated that he was born in either 1755 or 1757. He was the result of an affair with his mother, Rachel Fawcett Lavine, and a Scottish trader that soon abandoned them.
Hamilton was the first secretary of treasury of the United States which was a huge accomplishment for him. He was one of the people to convince New York to approve the U.S Constitution. Hamilton fought in a few battles because he was part of the Provincial Artillery. Alexander always
Being a part of the writing of the Declaration of Independence. Hamilton would also become the first Treasury Secretary of North America where he discovered the importance of a National Bank and the future debt of the country. Hamilton established America’s credit by resolving the problem of its outstanding debt. Hamilton was making great decisions and recognized accomplishments for the treasury until he began his involvement with a woman, Maria Reynolds, whom he deemed a woman in distress. It was believed that his view of a woman in distress was in need of help, was gathered from his mother and her need to be rescued by his father.
He successfully argued for the assumption of state debts by the federal government and the establishment of the first national bank – a private, but partially government-owned institution. He firmly established the principles of financial trading. Due to his efforts, the creditworthiness of the United States was restored. Hamilton’s accomplishments as Treasury Secretary were not achieved without a struggle. His congressional opponents tried to exhaust him by demanding detailed reports on the workings of the treasury department with incredibly short delivery dates.
Hamilton wanted to create public credit with a treasury system, a national bank, a mint, and increase manufacturing which would help unify the country. On the other hand, there was Jefferson, who opposed a strong central government. He argued that the “wealthy would gain at the expense of ordinary Americans and that Hamilton’s political economy would corrupt the morality of citizens and undermine the social conditions essential to republican government”(Powerpoint). The country would opt for an approach closer to Hamilton’s views. One of the first acts was the National Banking Act.
In 1777, Hamilton had become George Washington’s assistant. In the year of 1788 he convinced New Yorkers to ratify the U.S Constitution. He then became the secretary if the treasury. He was a founding father, served in the military, studied law, was involved in politics and government. He is also on U.S currency (10-dollar bill) who was never a president.