USA HISTORY

Detailed explanation-1: -Industrial subsidies Hamilton reasoned that bounties (subsidies) to industry, which would rely on funds raised by moderate tariffs, would be the best means of growing manufacturing without decreasing the supply or increasing the prices of goods.

Detailed explanation-2: -In the report, Hamilton argued that the nation’s primary industry should be manufacturing rather than agriculture. If the United States was a manufacturing nation, Hamilton wrote, it would be more self-reliant logistically and militarily.

Detailed explanation-3: -Hamilton believed that a strong industrial system was the best way to help the United States gain financial independence and become a world presence. After Hamilton was appointed the United States’ first Secretary of the Treasury, he continued to advocate for the establishment of industry in America.

Detailed explanation-4: -Hamilton’s largest industry sector within manufacturing is primary metals. The city is known for its history as a steel producer, but now the industry has grown to encompass engineering, product design, steel manufacturing, fabricated metal products, and final product commercialization.