THE VIRGINIA DYNASTY 1801 1825
THE MONROE DOCTRINE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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He helped negotiate the Louisiana Purchase
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He created the Bank of the United States
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He was the first Secretary of State
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He founded the Democratic Republican political party
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Detailed explanation-1: -Some of his biggest accomplishments included helping to defeat the British in the Revolutionary War, helping to push through the U.S. Constitution, being appointed the country’s first secretary of the Treasury, and revolutionizing the nation’s financial system.
Detailed explanation-2: -On December 15, 1790, Hamilton submitted a report to Congress making the case. He proposed a Bank of the United States with a $10 million capital (then five times more than all other American banks combined) and the ability to issue paper money. It would be based in Philadelphia and chartered for 20 years.
Detailed explanation-3: -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-4: -In 1791, the Bank of the United States was one of the three major financial innovations proposed and supported by Alexander Hamilton, first Secretary of the Treasury.