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Alexander Hamilton, a portrait by William J. Weaver now housed in the U.S. Department of State. In United States history, the Hamiltonian economic program was the set of measures that were proposed by American Founding Father and first Secretary of the Treasury Alexander Hamilton in four notable reports and implemented by Congress during George Washington's first term.
Portrait of Alexander Hamilton, John Trumbull, 1792. In United States history, the Report on the Subject of Manufactures, generally referred to by its shortened title Report on Manufactures, is the third of four major reports, and magnum opus, of American Founding Father and first U.S. Treasury Secretary Alexander Hamilton.
The key provision in Hamilton's fiscal reform was termed "assumption" and called for the 13 states to consolidate their outstanding debt of $25 million [68] and to transfer it to the federal government for servicing under a general funding plan. [69] Hamilton's chief objectives were both economic and political.
Alexander Hamilton (January 11, 1755 or 1757 [a] – July 12, 1804) was an American military officer, statesman, and Founding Father who served as the first U.S. secretary of the treasury from 1789 to 1795 during George Washington's presidency.
In United States history, the Second Report on the Public Credit, [1] also referred to as The Report on a National Bank, [2] was the second of four influential reports on fiscal and economic policy delivered to Congress by the first U.S. Secretary of the Treasury, Alexander Hamilton.
Alexander Hamilton's ideas and three Reports to Congress formed the philosophical basis of the American School. The American School of economics represented the legacy of Alexander Hamilton, who in his Report on Manufactures, argued that the U.S. could not become fully independent until it was self-sufficient in all necessary economic products.
"Alexander Hamilton in the Uniform of the New York Artillery" by the artist Alonzo Chappel (1828–1887) In addition to the external benefits and potential ills, Hamilton stated that public and private credit were inevitably tied and that private credit was equally necessary in a developing country for people of all occupations to begin their ...
Debt Assumption, or simply assumption, was a US financial policy executed under the Funding Act of 1790.The Washington administration pursued the policy, under Secretary of the Treasury Alexander Hamilton's leadership, to assume the outstanding debt of states that had not yet repaid their American Revolutionary War bonds and a scrip.