Alexander Hamilton: Leading Founding Father Of The United States

Alexander Hamilton one of the leading Founding Father of the United State, who had a passion and a plan for the future economic growth and a well establish government. One of the major parts of Hamilton’s plan was to build up or pay off the debt accumulated from the Revolutionary War by raising the income of the government. By aiming to distribute bonds to the potential investors with the guarantee of a full repay, this will allow to build up credits for the nation (Foner 284). To get a continuous flow of income for the federal government, he proposed tariff for the imported goods and other goods, helping along industries to widen their revenues as well. To ensure the safety of these transactions he addressed the creation on central banks.
With the central banks, it can distribute loans to the government and has a control of the overall flow of the economic, having that safety net for any transactions within and outward of the country.
Majority of the supporters for Hamilton’s plan were the northern, which had yet to pay off their debt. The ideas of improving the credit and issuing bonds can help in healing the financial problems in Americans. Companies, manufactories and other commercial services are supporters of Hamilton’s plan since imposing on taxes can increase the profit in the market. However, the south strongly opposed Hamilton’s plans as it is considered unnecessary for them, as majority of south almost done paying off their debt (Foner 286). Also, political leaders such as Thomas Jefferson opposed the idea of central banks because it was uncategorized in the constitution and predicted that favoritism of the bank over the nation would be created.