Chapter 6 Section 2: Hamilton and Finances

Front

Who believed that the states and the people should be stronger and hold more power?

Back

Thomas Jefferson

Front

What was Alexander Hamilton's greatest challenge as secretary of the Treasury?

Back

Paying off or reducing the national debt

Front

How much money did the United States owe after the Revolutionary War?

Back

$25 Million

Front

Why was the capital of the United States moved from New York?

Back

To satisfy the South's feeling that it was too far up North; they felt its Northern location was unfair.

Front

What was Hamilton's central idea for creating a national bank?

Back

He wanted the government to have a place to safely deposit its money.

Front

What economic system did Alexander Hamilton advocate for?

Back

A strong central government with a focus on industry and commerce.

Front

What was the purpose of Hamilton's financial plan?

Back

To stabilize the American economy and establish credit.

Front

What role did the national bank play in Hamilton's financial plan?

Back

It served as a repository for federal funds and a facilitator of government financial operations.

Front

What was the significance of the assumption of state debts in Hamilton's plan?

Back

It aimed to unify the states under a single national debt, promoting national unity.

Front

How did Hamilton's financial policies affect the relationship between the North and South?

Back

They created tensions, particularly regarding the location of the capital and the assumption of state debts.