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The Hamiltonian economic program was the set of measures that were proposed by American Founding Father and first
The Hamiltonian economic program was the set of measures that were proposed by American Founding Father and first Secretary of the Treasury
The United States secretary of the treasury is the head of the United States Department of the Treasury, and is the chief financial officer of the federal government of the United States. The secretary of the treasury serves as the principal a ...
Alexander Hamilton in four notable reports and implemented by the US Congress
The United States Congress is the legislature of the federal government of the United States. It is bicameral, composed of a lower body, the House of Representatives, and an upper body, the Senate. It meets in the U.S. Capitol in Washin ...
during George Washington
George Washington (February 22, 1732, 1799) was an American military officer, statesman, and Founding Father who served as the first president of the United States from 1789 to 1797. Appointed by the Continental Congress as commander of ...
's first term. They outlined a coherent program of national mercantilism government-assisted economic development……
* First Report on Public Credit – pertaining to the assumption of federal and state debts and finance of the United States government (1790). Hamilton included his plan to tax distilled spirits among other domestic goods to boost revenue. He thought that a tax on spirits would be the least objectionable way to make money, as it could be philosophically equated to a pigovian or sin tax. However, his new tax set off the Whiskey Rebellion which highlighted separation in social classes as rural Pennsylvania farmers fought against the government. Eventually, the tax was repealed, but the incident greatly emphasized the government's willingness and ability to suppress violent resistance to its laws.
* Second Report on Public Credit – pertaining to the establishment of a national bank (1790)
* Report on Manufactures
The Report on the Subject of Manufactures, generally referred to by its shortened title Report on Manufactures, is the third major report, and ''magnum opus'', of American Founding Father and first United States Treasury Secretary Alexander Hami ...
– pertaining to the policies to be followed to encourage manufacturing and industry in the United States (1791)
*Report on a Plan for the Further Support of Public Credit
The Report on a Plan for the Further Support of Public Credit, is the "valedictory" report issued to the US Congress on January 16, 1795 by the first United States Secretary of the Treasury, Secretary of the Treasury, Alexander Hamilton. In addit ...
- pertaining to how to deal with the system of public credit after Hamilton's resignation, including complete extinguishment of the public debt (1795)
See also
* American School (economics), for the Hamiltonian American School of economics practiced by the United States from 1790s–1970s rooted in the three Reports, based on tariffs which built the American industrial infrastructure * Federalist Party, Hamilton's political party, which supported his program and pushed most through CongressReferences
Concerning Support of Public Credit in Colonial America
* * * * * *External links
* Alexander Hamilton Federalist Party American political philosophy Economic nationalism {{UnitedStates-stub