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Great! We got a country!. Now… What do we do with it? ?. Lets figure out this money thing… . Alexander Hamilton, Washington's secretary of the treasury, wanted to get American off to a sound financial start…. Lets figure out this money thing… .

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great we got a country

Great! We got a country!

Now… What do we do with it?

?

lets figure out this money thing

Lets figure out this money thing…

Alexander Hamilton, Washington's secretary of the treasury, wanted to get American off to a sound financial start….

lets figure out this money thing3

Lets figure out this money thing…

Hamilton’s Plan: AssumptionPay off our old debts!

(Old Govt. debts and state debts)

South had already paid most of its debt off... stay tuned!

Congress Agrees!

Why?

lets figure out this money thing4

Lets figure out this money thing…

Hamilton’s Plan: National BankStabilize economy, make it easier for businesses, and deal with govt. money. (Wealthy investors owned 80% of bank)

(Created in 1791 by Congress)

lets figure out this money thing5

Lets figure out this money thing…

Hamilton’s Plan: Protective Tariffs Protects domestic (U.S.) businesses from foreign competition (Britain, France)

NOT approved by Congress although similar measures were passed eventually

lets figure out this money thing6

Lets figure out this money thing…

Hamilton’s Plan: Washington, D.C.Build it!

Donated land from Maryland and Virgina

lets figure out this money thing7

Lets figure out this money thing…

Hamilton’s Plan: Excise TaxA tax on consumption of a particular good = WHISKEY!

Raise $ for govt and proved the govt could tax! (trouble brewing)

hamilton s plan what do you think

Hamilton’s Plan: What do you think?

VERY controversial

Encouraged the wealthy to support the govt (stable = safe for $)

Put the country on sound financial footing

Some people were not happy…

hamilton s plan whiskey rebellion

Hamilton’s Plan: Whiskey Rebellion

1794: Pennsylvania farmers refused to pay excise tax on whiskey made from their grain

Washington called up the state militias to put it down

Federal Govt was NO JOKE!

Shays?