Alexander Hamilton's financial plan

Definition

Alexander Hamilton's financial plan refers to a series of economic policies proposed by Alexander Hamilton, the first Secretary of the Treasury, in order to stabilize and strengthen the newly formed United States. His plan included measures such as establishing a national bank, assuming state debts, and implementing tariffs.

Related terms

National Bank: A central institution that handles the nation's finances, including issuing currency and providing loans.

Assumption of State Debts: The act of taking responsibility for individual states' debts as a collective responsibility of the federal government.

Tariffs: Taxes imposed on imported goods to protect domestic industries and raise revenue for the government.