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Alexander hamilton's contribution
Alexander hamilton impact on the united states
Alexander Hamilton contribution to America
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Alexander Hamilton was born on the island of Nevis of the British West Indies January eleventh in 1757. He lived with his brother and a single mother. In 1772, Hamilton moved to the United states. He entered the Continental Army in 1776 as the captain of artillery while in New York where he also studied law at King’s College. He was married to Elizabeth Schuyler in 1780. Elizabeth was from a wealthy land holding family, this helped Alexander hold ties to rich and powerful leaders in New York. Alexander Hamilton died in 1804 on July 12. Aaron Burr was the man who killed him in a duel because Mr. Hamilton help Thomas Jefferson win the election for becoming the 3rd president of the United States. Hamilton was President Washington’s Secretary of the Treasury in the Cabinet in 1789-1795. The first task that Hamilton took care of for President Washington, was the problem of public credit. Since the government had taken on so much debt during the Revolution they deeded a plan to pay it all off. When proposing this idea the vow to pay them back was not taken very seriously. Toward the end of the 1780s, the state IOU's, or money borrowed to finance the Revolution, were seen as nearly valueless. Hamilton then issued a bold proposal that the federal government should pay off all the state’s debts at face value. To raise money for this, Hamilton offered to issue new securities bonds. The people who bought these would pay a huge profit. Alexander was also requested to create a national currency system. He proposed to the Bank of the United States that a central bank would help the new nation's economic change through a more secure paper currency. By the end, with support from the president, the bank was leased with its first command post in P... ... middle of paper ... ...tes would never be seen as a stable and reliable nation. To pay off the debts Hamilton designed to raise taxes throughout the country. And when the capital moved from Philadelphia to New York City, Hamilton offered to convince Congress and the President to move the capitol south to an appointed area near Virginia now known as District of Columbia. Works Cited Biographical Directory of the United States Congress. Ron Chernow, n.d. Web. 16 Feb. 2014. U.S. History. Independence Hall Association of Philadelphia, n.d. Web. 16 Feb. 2014. . US History. N.p., n.d. Web. 16 Feb. 2014. brandywine/special/art08.htm>. Spark Notes. N.p., n.d. Web. 16 Feb. 2014. biography/hamilton/section7.rhtml>.
This bank held government money and controlled the economy by making it easier for local banks to borrow money from it to loan it to manufacturers and factories. As the idea arose the cabinet, Jefferson protested that such a bank was unconstitutional because it favored the north over the south since the bank did not loan money to farmers for land expansions. Being true as it is, the bank drastically boosted our economy and had a great future for our nation. Since it was unconstitutional, a compromise said that the bank would only be funded for 20 years. So as soon as Andrew Jackson was elected, he destroyed the bank. In response to this, our nation suddenly falls into a major depression. No one had jobs and the economy was dying. This showed the brilliance of the national bank and how much it helped our economy. Adding onto this, the bank began the formation of the Federalist and Democratic
Alexander Hamilton was born on Nevis in the British West Indies. He was born on January 11 1755 or 1757. Rachel Fawcett and James Hamilton were his parents. His father left him and his mother when he was only ten. He had to get a job at 11 to support his family. When he was twelve his mom got sick and died. Alexander then moved in with his cousin, but sadly the cousin committed suicide. After the cousins death,
Hamilton admired the central banks of Europe and wanted the same for the United States. He was elected to be the first Treasury Secretary after founding the Bank of New York. Hamilton proposed a bank of the United States based in Philadelphia. The bank would have a $10 million capitol and the ability to issue paper money and would be chartered for 20 years. The federal government would have a minor stake in the bank, and would have a board of directors made up of private individuals, to ensure a mix of public oversight and private enterprise. The Bank would lend the government money and securely hold its deposits, there would also be uniformed currency for the American citizens, and would also promote business and industry by extending credit. The National Bank along with some of Hamilton’s other financial programs would help give the United States an equal financial footing with the European nations. Hamilton’s ideas on a National bank supported the Federalist Parties commitment to having a financially sound
During his term as secretary of the treasury, he acted with the power and commanding force of a Prime Minister. None of the other founding fathers contributed as much to the economy’s growth, and the shape of the country in general, as he did. Alexander Hamilton was the most influential of the United States’ early politicians in the development of the country’s economy. One of the earliest examples of Hamilton’s power was his role in the national assumption of state debts. After the Revolutionary War, individual states had varying amounts of debt.
Alexander Hamilton was born a bastard child in the West Indies and demonstrated great intellectual potential at an early age. He was sent to New York City for schooling and studied at King’s College, now Columbia University. His vision of America took a more capitalistic tone and “he was determined to transform an economically weak and fractious cluster of states into a powerful global force” (Tindall & Shi, 2010). Hamilton advocated a strong central government. He was bold and persuasive and his philosophies quite extraordinary for his time.
One such issue was that of the National debt and creating a National Bank. In 1790, Alexander Hamilton proposed that Congress should establish a national bank, in which private investors could buy stock, could print paper money, and keep government finances safe. Washington signed the bill establishing a national bank and started a strong foundation for a thriving economy and a stable currency.
After the first War for Independence, The United States was approximately $52 million in debt. Due to having such bad financial problems, the United States created a national Bank to create one unified currency, to take away all state debts, and to issue loans to the people to promote growth. This National Bank was created by Alexander Hamilton who was a Federalist, and once Jefferson came to be the President, he continued the idea of the national bank because it was helping to reduce the national debt. The primary reason for the National Bank being a representation of a Federalist idea was because since it was issuing loans to people it was able to promote industrial growth which was one of the main goals of the Federalist party. From Jefferson continuing the use of the National Bank thru his presidency he demonstrates his need to continue a loose constructionist idea.
Alexander Hamilton was a founding father of the United States of America. He fought alongside George Washington in the American Revolution as lieutenant colonel, plighting to secure the freedoms of many colonists. He was also equally proficient in writing and debate. Hamilton wrote The Federalist Papers alsongside John Jay and James Madison and served on the Continental Congress, being among those who signed the Constitution. Due to many of his accomplishments, Hamilton’s death affected the United States in various ways some of which included economics, foreign affairs, politics, and conspiracy.
Alexander Hamilton played many important roles in creating the new republic and one was that he was the Founding Father that helped ensure the ratification of the United States Constitution and established America’s new financial system. He was the first secretary of the treasury, among other things such as being a lawyer, member of the Continental Congress, and an author for the Federalist Papers. Hamilton’s career in helping to build the newly improved nation started when he helped lead alongside George Washington during the Revolutionary War. Hamilton is significant today because he is known as the politician that helped shape the U.S. economic system and a new way of governing the nation.
It is believed that he was born on January 11th 1755 or 1757 (there is no exact date) in the Island of Nevis, British West Indies. At an early age, his father abandoned them and he had to find a job at the age of 11. The death of his mother at the age of 38, left Alexander completely impoverished, forcing him to work even harder to support himself. His fast learning ability and his determination, made him to be admired by others. Despite of his young age, Alexander became experienced in the business world as he was involved in the commerce and trade market. Hamilton came to United States when he was a teenager and he embraced the culture and traditions of this country as his own. In 1773, Alexander arrived to New York, there, he assisted to King’s College. He did not graduate from the school, instead, he joined the Patriots to protest the imposition of taxes by Great
Because of his outstanding leadership, and amazing arguments, he has greatly shaped the way our country runs today. Despite the fact that Hamilton’s policies and actions provoked intense opposition between Thomas Jefferson and James Madison, he still made a profound difference. He was well known for becoming the first U.S. Secretary of the Treasury, Co-author of The Federalist Papers, and the First New York delegate invited to the Constitutional Conventions. He is now also famous for being an Economist, and Political Philosopher. He greatly influenced the creation of the National Bank and served as a presidential advisor for many many years. He later on was a part of the court case Croswell , which involved a case of libel, and his argument in the case greatly influences how we try libel cases (truth and intent protect you) today. You can now visit Hamilton’s statue on the south side of the Treasury Building in Washington, D.C. and also find an extensive collection of Hamilton's personal documents that is found in the Burke Library which was referred to as the “Hamilton Hall”. As you can see Hamilton never ceased to serve and fight for his country, and that is why he is remembered today as a very important Founding
Alexander was the founding father of the united states. He had a tough childhood since he was a orphan and his town was hit by a hurricane. But that didn't stop him, rathered help him pursue his education. Hamilton had an extraordinary career consisting of him being apart of the Revolutionary war;fighting for American independence. George Washington was his right hand man appointing hamilton to secretary of the treasury because of his political skills. His life also had it's down moments he was married to Elizabeth Schuyler but cheated with Angelica. Alexander faced many ups and downs in his life from meeting a political partner George Washington to having trouble with relationships with women, but all helped him progress to success.
Have you ever wonder the portrait on US ten dollar’s bill? What’s the significant of it? It is the portrait of a great person Alexander Hamilton; the first secretary of treasury. He was born in January 11, 1755 and illegitimate son of a Scottish merchant in the West Indies. At the age of 11 he had his first job at the tender. In 1773, he moved to New York to study yet, he was more involved in politics than academics. Furthermore, when the American Revolutionary War began in 1775 he joined military. After the War America has faced national debt issues. Later, at the age of thirty-two Hamilton was elected as a representative to the Congress of the Confederation under President Washington. Washington also put him on domestic and foreign policy. Hamilton was not happy with the Articles of Confederation and the weak central government. As a result, he wanted to strengthen the power of the national Government. On January 14, 1790 Hamilton made a report on the public credit and sent it to Congress. On his report, he proposed three things. First, he wanted to redeem the old debt by issuing new bonds. Then his plan was to undertake the state revolutionary debt. Hamilton's final proposal was that he wanted to fix the debt problem by adding state debt and to establish the nation’s credits. Hence, he created a national bank to land and to borrow and store money. In a
Alexander Hamilton met George Washington when he was his secretary of treasury. George Washington used him to help with his army that he had. When Alexander Hamilton helped George Washington he realized America was really finacial under.Alexander Hamilton didn’t like the fact the United States were in debt so he decided to make a banking system to get America out of debt. With the help of George Washington, Alexander Hamilton set up a national banking system in major cities across the United States.
“[T]he man on the ten-dollar bill is the father of the American treasury system, a signer of the Constitution, one of the primary authors of the Federalist Papers, and the loser of the infamous duel with Vice President Aaron Burr. Alexander Hamilton's earlier career as a Continental Army officer is less well known. Yet Hamilton's first experience in public service is important, not only because it was the springboard to his later career, but because it also deeply influenced his values and thinking” (Hamilton).