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Essay on te history of alexander hamilton
Alexander hamilton contributions to america
Alexander hamilton contributions to america
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In our history classes throughout school, we at one point in time may have been taught about our Founding Fathers of the United States of America, the men who aided in building the country we now know today. When we hear the words “Founding Fathers” we may picture specific men like George Washington, Benjamin Franklin, and Thomas Jefferson for example. However our history classes tend to pass over one specific Founding Father: Alexander Hamilton. The man that graces the ten dollar bill and who was America’s first Treasury secretary is grossly overlooked and often swept under the rug of American History, leaving us to wonder why exactly is Alexander Hamilton a Founding Father of our country. Why is he important enough to put on our currency, …show more content…
Once Washington placed Alexander Hamilton in the position as the first Secretary of the Treasury in 1789 that is exactly what Hamilton planned on doing. Alexander Hamilton was quite probably one of the best choices for Treasury Secretary due to his knowledge of political economy he gained from working on trade in St. Croix and his hardworking attitude instilled in him at an early age. The war was not without its consequences and the new country suffered greatly with their finances. Unable to tax the colonies, the Continental Congress issuing their own “continentals” as their form of credit, and the issuing of several different forms of currency that decreased to 1/150th of its value by 1781. With their currency now virtually worthless the new country was struggling to repay their debts from the war and were weary of taxing the colonies to aid in their efforts since taxation was the ultimate cause of the war , the American economy was in a …show more content…
Hamilton’s Report on a National Bank was one of his most “lengthy, meticulously researched and highly persuasive” pieces of writings and arguably his most important, which highlights the importance of establishing a national bank for the United States economy. With virtually no previous knowledge or writings on such subject matter, Alexander had to rely on his own intelligence and intellectual abilities to create his own financial systems and foundations on which to build his national bank. Hamilton believed that his proposed idea of a national bank could contribute much to the new country including turning it into a creditworthy nation that is able of paying their debts and taxes and able to support trade within itself and with other
The day that Alexander Hamilton was first placed into the United States Government would be the day which would forever change our nation. The time when he would start and create a fantastic economy out of scratch. He did it with one brilliant five point plan. But there were three parts of the plan which were the body of this project. These were the assumption of state debt, the whiskey tax, and the construction of a national bank. All of these together would enhance our economy, before the tyrant Jackson would destroy them (bank). Nevertheless, his plan dealt with and solved the tough issues such as federal debt, government money supply, and economical shape throughout our nation. So for these answers he gave to our people, we must be grateful
During 1788, Alexander Hamilton was one of the three authors of the Federalist Papers in addition to being a Lawyer in the state of New York. The Federalist Papers are known for being an imperative source of understanding in regards to the original Constitution.
In the initial stages of independence, the United States was still a weak and vulnerable country. Thus, it was necessary to implement plans that not only had the goal of a bright future, but would help the United States survive to that point. Due to the countries weak state, and his influential position atop the United States treasury, Hamilton was able to implement most of his economic policies. The biggest of which were his consolidation of international and domestic debt and creating a national bank. Republics were seen as weak back then, they very rarely succeeded and the U.S. was already in a vulnerable state because of the revolutionary war. Hamilton’s national bank and centralized government was a good idea in this aspect because it not only would create a sense of unification and power among the U.S. but it also put foreign debts first, which was
How many Americans recognize the man on the back of the one hundred dollar bill? Do you know who he is and why he is on the back of that bill? If you said George Washington then you are right! It is said that when one begins something that others will follow behind you and in George Washington's case that is correct. George Washington paved the way for many other presidents that followed after him up until the one we currently have today. Without our first president we would not have our current president. George Washington made huge contributions and achievements to our country that still stand today.
Since the birth of the country, there have been many influences on its development. The economy in particular has been an area of great importance. Many people have been factors in the growth of the United States’ economy. Perhaps the earliest and most influential of these was Alexander Hamilton. As shown in his effective policies, such as assumption of Revolutionary War debts, practical taxation, formation of the National Bank, and views on manufacturing, Hamilton was a dominant force from the beginning. 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 on the development of the country’s economy.
George Washington became President in 1789 and since then has been regarded as America’s “Founding Father”(10). This grand and hero-like status is said to have “began gravitating to Washington six months before the Declaration of Independence, when one Levi Allen addressed him in a letter as ‘our political Father.’”(10). The preservation of Washington’s role as a national hero has been allowed by authors and the media omitting his many flaws as if they had either been forgotten or were no longer important. Yet by excluding these human faults, they have projected an almost god-like hero and inflicted him upon the nation as their Father, somebody whose “life still has the power to inspire anyone”(10).
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.
...He greatly supported an effective and powerful vital authority that enabled the fresh and new American nation to maintain itself during the premature periods (Scott, 2008). Hamilton’s ideas of development for America, and the knowledge he acquired in the Continental Army, maintained their tremendous influence in the formation of the American Constitution (Robertson, 2005). Therefore, Hamilton’s contribution to the American nation during the early days remains important until today (Scott, 2008).
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.
The dispute began when, Secretary of Treasury Hamilton proposed a financial program (Redemption, Assumption, Funding, and Credit). In his plan, Hamilton argued for a national bank, claiming that it would increase the national governments economy growth. Jefferson opposed the plan inciting further conflict between Hamilton. Jefferson argued for a strict interpretation of the Constitution, claiming that the Constitution doesn’t specifically say it then you can’t do it. Therefore, the government can’t create a national bank. In contrast, Hamilton argued for the loose interpretation of the Constitution, he claimed that if the document doesn’t forbid it specifically then it could happen. Although, Hamilton’s finical program caused debate, Washington approved the
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.
The validity of President Andrew Jackson’s response to the Bank War issue has been contradicted by many, but his reasoning was supported by fact and inevitably beneficial to the country. Jackson’s primary involvement with the Second Bank of the United States arose during the suggested governmental re-chartering of the institution. It was during this period that the necessity and value of the Bank’s services were questioned.
Did you know that Alexander Hamilton is on the 10 dollar bill? The american revolution started when the english redcoats fired into a crowd of unarmed innocent people. The news spread around america quicker than it got to the king. This was a very big point in history. Alexander Hamilton grew up on the island of Nevis, British West Indies on January 1755 or 1747. During the revolution Hamilton was appointed first secretary of the treasury where he helped a lot with the debt that the revolution caused. In 1777 hamilton became George Washington's assistant. Hamilton was also promoted to Lieutenant Colonel of the Continental Army. When he was washington's assistant he wrote a lot of washington's letters and wrote reports on
Hamilton believed in a strong central government and to acquire this, wealth was the key. He wanted to make the United States rich in order for it to become a very powerful government. Hamilton learned first hand what it is like to earn a living, and that is why he believed, that wealth was the foundation in building a strong nation. He felt that those with wealth, merchants known now as businessman, would launch the U.S. into wealth and power. He also believed that with wealth came knowledge. When Hamilton started his journey as Secretary of Treasury, he was faced with many difficulties; The National Debt was such an obstacle. However, he considered it a necessary one, “A national debt, if it is not excessive, will be to us a national blessing. It will be a powerful cement of our Union.” (From Thomas Jefferson to James Duane September 3, 1781) He felt the utmost importance in paying off all of our debts. This was significant in order to build exemplary credit and creating our first National Bank, the Bank of the United States. On the other hand, Jefferson’s idea of America was one built by farmers and not merchants. He thought the only person who was truly free were indeed the farmers. In a letter he says, “I would rather be exposed to the inconveniences attending too much liberty than to those attending too small a degree of it.” (From Thomas Jefferson to Archibald Stuart December
Alexander Hamilton planned to retire the old depreciated obligations by borrowing new money at a lower interest rate. In the beginning, Alexander Hamilton proposed the idea for solving the debt problem the United States to George Washington. George Washington wasn't too thrilled about that idea because he thought it violated the constitution and did not support Alexander Hamilton's idea on solving the United States dept. Alexander Hamilton later advocated his idea of the national bank of exerting objections by Thomas Jefferson explaining that it wouldn't violate the constitution to congress and George