Hamilton's Financial Plan

Definition

This was a series of measures proposed by Alexander Hamilton, the first Secretary of the Treasury, to stabilize the U.S. economy after the Revolutionary War. The plan included paying off war debts, creating a national bank, and imposing tariffs and excise taxes.

Related terms

National Debt: The total amount of money that a country's government has borrowed.

Bank of United States: A national bank chartered by Congress designed to provide a stable currency and be a repository for federal funds.

Excise Tax: A tax on specific goods or services like alcohol or tobacco.