Alexander Hamilton's financial policies

Definition

Alexander Hamilton's financial policies refer to the economic measures implemented by Alexander Hamilton, the first Secretary of the Treasury under President George Washington. These policies aimed to strengthen the federal government and stabilize the economy through initiatives such as creating a national bank, assuming state debts, and imposing tariffs.

Related terms

Federalist Party: The Federalist Party was formed by supporters of Alexander Hamilton's financial policies. They believed in a strong central government and were generally more favorable towards industry and commerce.

Democratic-Republican Party: The Democratic-Republican Party, led by Thomas Jefferson and James Madison, emerged as a reaction to Alexander Hamilton's financial policies. They favored states' rights over a powerful federal government and were generally more agrarian-focused.

National Bank: As part of his financial plan, Alexander Hamilton proposed the creation of a national bank that would serve as a central repository for government funds and provide loans to stimulate economic growth.