Thesis: The paper proceeding this sentence will go on to recognize a multitude of Alexander Hamilton’s achievements and economic plans to determine their effect on the nation’s economic and financial systems.
Introduction: Alexander Hamilton is often said to be one of the father’s and main contributors to the current economic system of America. This paper will provide a short summary of Hamilton’s early life and his achievements to give the reader insight into events the influenced his life and skills in economics Many achievements and influential works listed in this paper range from his earlier works in the late 1770’s, more significant projects in the 1790’s. Hamilton’s economic plan will also be analyzed to find the change in America’s economy from an ununified nation with large unpayable debts, to one with a more stable economy and government and unified currency.
Before We Begin: Before examining Hamilton’s plans and the everlasting effects on America’s economy we must first understand America’s financial and economical standing after the Revolutionary War. America’s victory over Great Britain came at a high price. The Federal government had accumulated millions of dollars in debt and each state had different currencies which had been made almost completely useless after the
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He wrote and published a multitude of revolutionary essays including “A Full Vindication of the Measures of Congress from the Calumnies of Their Enemies” and “The Farmer Refuted” in 1774 and 1775 respectively. Hamilton also had an outstanding influence on the warfront being appointed captain of the New York artillery company in 1776 and eventually ascending to lieutenant colonel ad aide-de-camp to George Washington in 1777. Hamilton’s list of achievements only continued to grow as he expanded his role on the nation’s government and
In the 1790s, the first Secretary of the Treasury, Alexander Hamilton and fellow Federalists wanted to protect the United State's economic future through several different means; namely, the creation of a national bank, maintaining good financial credit, and by developing a lasting economic system. The United States was in turmoil, still rebuilding from their recent detachment from Britain. The United States government was in shambles, its economy arguably in an even worse one. It was for that reason that president George Washington elected Alexander Hamilton to develop a sound economic plan for the United States. Hamilton and his fellow Federalists had many ideas for improving the economy; however, the Republicans or Anti-Federalists, were disinclined to agree with their federalist counterparts due to opposing views on government authority.
In 1789, Alexander Hamilton took office as the first United States Secretary of the Treasury. Hamilton believed in centralized government and wanted to create ways for the nation as whole to pay off all war debts, raise government revenues, and create a national bank. Amongst many of Hamilton’s duties as Secretary of Treasury; was to formulate a financial plan to alleviate the country’s hefty debt from the Revolutionary War. He believed that since most of the war debt was incurred by the States but for the benefit of the entire nation, the debts from the war should be assumed by the federal government.
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
Gordon 's premise in Hamilton 's Blessing is that the national debt can be used positively in order to boost the economy of a country like the United States. In the book, Gordon uses economic history and theory to examine the start, rise and decline of the United States debt. The author opens his book by stating that this country was born in debt, and this debt has become so high that concerned individuals no longer think about it. Hamilton 's Blessing charts the history of the national debt since when the central bank of the United States was founded in 1971, up to modern days. The intellectual architect of this creation was Alexander Hamilton, the first Treasury Secretary as well as a central figure who had a deep impact on the economic
During the 18th century, the economy of the United states was practically underwater due to the very expensive war the U.S. had recently ended, known as the “Revolutionary War”. The enormous debt the U.S. acquired was hindering. Determined to make a change, Alexander Hamilton
In his early life in 1773 when he was around 16 years old, Hamilton arrived in New York where he enrolled in King's College Hamilton was drawn more too political involvement than he was to academics. He wrote his first political article defending the Patriots' cause against the interests of pro-British Loyalists. Became a quick learner Hamilton deemed himself quite capable of becoming a self-made man. Alexander Hamilton is remembered as an important part of United States history. He was recognized as the first appointed Secretary of the Treasure in the Unites States during the time he held his office he worked a lot and established a very powerful financial system.
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
As newly appointed Secretary of Treasury, Federalist Alexander Hamilton devised complex policy to achieve economic dominance. Hamilton first intended to pay off its extensive Revolutionary way debts. He issued securities bonds for investors to purchase in the hopes of gaining profit for the United States. Hamilton’s policy also included the proposal of a Bank of the United States in order to make the nations economy dynamic through a more stable currency. Lastly Hamilton wanted the United States to embrace a mercantilist economic policy to protect American manufactures through high tariffs and government subsides.
Immigrant, politician, and lyrical genius are three attributes that describe Alexander Hamilton. Many people know that Alexander Hamilton’s story transformed into a hit musical, but he was so much more. As a well known founding father, Alexander Hamilton showed Americans that they should stand for the change they believe in.
They remained loyal to Hamilton and continued to rely on him extensively. This was one of the reasons that Adams, as well as Jefferson, developed an intense hatred for Hamilton. It was during Adams’ presidency that the venerable Washington was called upon to resume his generalship because of the looming prospect of war with France. He would only do so on the condition that Hamilton be second in command. By this time, Washington and Hamilton had developed a mutual respect that elevated Hamilton to the status of peer.
Alexander Hamilton is on the $10 bill because he was the first United States Secretary of the Treasury and was so, from 1789 to 1795. Three of Alexander Hamilton's accomplishments consists of, writing most of the Federalist papers, he was the first Treasure Secretary and was George Washington's most trusted aid during the revolutionary war, where he also assisted in forcing the British to
After the war the United States was in debt that caused Hamilton to come up with the idea of a national bank. In call for the House of Representives, Hamilton wanted to be supported by them to obtain public credit. Hamilton wanted to reduce the national debt and stabilize the nations national currency even by increasing it .Hamilton ’s report on the bank was seemed to be a financial prosperous administration to finance and help improve the publics credit .Hamilton seen this as a great idea and then began to acknowledge the advantages of the bank . Hamilton saw that the bank could potentially not only just help the government but could help the citizens in their personal lives as well.
In Alexander Hamilton’s lifetime, he had many achievements, along with some hardship on the way. Alexander Hamilton was born on January 11th of 1755 to his parents, who were not yet married when he was born, Rachel Faucette and James Hamilton. His father abandoned his family when Alexander was about eleven years old and his mother died not long after from an illness in 1768. Then, in 1772, Alexander arrived in the Colonies to go on to attend King’s College about two years later.
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.