MAKING OF A NEW NATION 1776 1800
ALEXANDER HAMILTON
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Federal Government would create a Bank of the United States
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The Federal Government would not assume the debt of each of the states
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Hamilton did not want any taxes on the population
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None of the above
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Detailed explanation-1: -Hamilton’s plan called for the government to repay both federal and state debts. He wanted the government to buy up all the bonds issued by both the national and state government before 1789. He then planned to issue new bonds to pay off the old debts.
Detailed explanation-2: -As the first Secretary of Treasury, Alexander Hamilton had a vision for the economic foundation of the country. Its three major components were the federal assumption of state debts, the creation of a Bank of the United States, and support for the nation’s emerging industries.
Detailed explanation-3: -During the 1790s, he would use the constitutional authority of that new government to build a lasting republic. Hamilton’s visionary financial plan was the foundation of his nation-building in the 1790s. He wanted to establish the credit of the United States and encourage economic growth through a national bank.