Describe Alexander Hamilton's plans to address the nation's financial woes. Which aspects proved most controversial, and why? What elements of the foundation Hamilton laid can still be found in the system today?

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History

Davis Holt

3 May, 16:39

Describe Alexander Hamilton's plans to address the nation's financial woes. Which aspects proved most controversial, and why? What elements of the foundation Hamilton laid can still be found in the system today?

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Popeye · Answer 1

Alexander Hamilton wanted to "assume state debt and establish a national bank". However, his plan would have the government assume state's debt which would benefit where Hamilton sat politically, which was obviously quite controversial. As well as this it was really long, so most people didn't understand it.

Hamilton also argued that centralized debt would ease the flow of capital through the new nation.

Explanation:

Just listen to cabinet battle #1 from the Hamilton musical.