This was the most important of the executive departments at the time because one of the government’s biggest issues was trying to come up with a way to pay off the national debt that they received in result of the American Revolution. Hamilton’s first report recommended payment of principal and interest of the public debt and assumption of state debts that were brought upon during the American Revolution. The Assumption bill was defeated at first but Hamilton rescued it by bargaining with Thomas Jefferson and James Madison about the location of the national capital location. His report on a National Bank made the establishment of public credit and made the powers of the new national government greater. Some members of Congress doubted it but eventually most agreed and Hamilton's plan passed legislation and the first bank of the United States was
This was the most important of the executive departments at the time because one of the government’s biggest issues was trying to come up with a way to pay off the national debt that they received in result of the American Revolution. Hamilton’s first report recommended payment of principal and interest of the public debt and assumption of state debts that were brought upon during the American Revolution. The Assumption bill was defeated at first but Hamilton rescued it by bargaining with Thomas Jefferson and James Madison about the location of the national capital location. His report on a National Bank made the establishment of public credit and made the powers of the new national government greater. Some members of Congress doubted it but eventually most agreed and Hamilton's plan passed legislation and the first bank of the United States was