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Alexander Hamilton. By: Erin Herock Period: 2. “Men often oppose a thing merely because they have no agency in planning it, or because it may have been planned by those whom they dislike.” -Alexander Hamilton. Alexander Hamilton. Who was Alexander Hamilton?
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Alexander Hamilton By: Erin Herock Period: 2
“Men often oppose a thing merely because they have no agency in planning it, or because it may have been planned by those whom they dislike.” -Alexander Hamilton
Alexander Hamilton Who was Alexander Hamilton? • In his teenage years he helped run a shipping company in the British West Indies. • He impressed the people working with him because of his intelligence and work ethic. • Because of this, he left for New York in 1773. • He was appointed the secretary of the treasury by George Washington. • He was known as a man with an ability for economical planning. • Also, he had the gift for financial matters.
Hamilton on Settling the Debt • The national debt was the amount of money owed by the United States to various creditors. • Hamilton calculated that the United States owed about $11.7 million to foreign countries such as France, and around $40.4 million to America creditors. • Domestic debt was in the form of bonds which were certificates that represent money owed by the government to private citizens. • Bonds were what the U.S. sold during the Revolutionary War, and they promised to buy back the bonds at a higher price to guarantee a profit for bond-holders. • However, the government could not afford to buy the bonds, causing many bond-holders to sell their bonds to speculators- investors who buy items at low prices in the hope that the value will rise later. • Hamilton proposed a plan to pay off all foreign debt first, and gradually repay bond-holders .
Hamilton on the National Bank • It was created because the government had a debt from the Revolutionary War, and each state had different form of currency. • He believed it provided a safe place to deposit government funds and would serve as a reliable source of loans for the government and businesses. • He proposed a national mint to begin issuing money.
The Duel Between Alexander Hamilton and Aaron Burr This duel took place on the morning of July 11, 1804 in Weehawken, New Jersey.
The Duel Between Alexander Hamilton and Aaron Burr Why did this occur? • To begin, the first conflict was that Hamilton was a Federalist and Burr was a Republican. • Then, in 1791, Burr took the Senate seat from Philip Schuyler, Hamilton’s father-in-law. • This resulted in Hamilton, the Treasury secretary, to be supported less because he counted on Schuyler’s votes. • In 1804, Burr decided to run as an independent instead of joining the Republicans; he believed that by doing so he would have power. • Out of mistrust, this alarmed Hamilton that Burr was going to be leading New York. • Hamilton then tired to warn the New York Federalists not to vote for Burr, and started a campaign against him. • Burr’s campaign failed, and he blamed this on Hamilton. • That was the last straw between them ,and it ended in the duel between them on July 11, 1804. • Alexander Hamilton died a day after the duel because of a gunshot wound.
The Duel Between Alexander Hamilton and Aaron Burr Why was a duel a solution to their conflicts? • Duels in the 1800’s were usually to protect their honor. • After challenging another man to a duel they would often end in negotiations or deals. • They often did not end in violence.
