United States history The history of the present-day United States began in roughly 15,000 BC with the arrival of Peopling of the Americas, the first people in the Americas. In the late 15th century, European colonization of the Americas, European colonization beg ...

, 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 Alexander Hamilton (January 11, 1755 or 1757July 12, 1804) was an American military officer, statesman, and Founding Fathers of the United States, Founding Father who served as the first U.S. secretary of the treasury from 1789 to 1795 dur ...

in four notable reports and implemented by

Congress A congress is a formal meeting of the representatives of different countries, constituent states, organizations, trade unions, political parties, or other groups. The term originated in Late Middle English to denote an encounter (meeting of ...

during

George Washington George Washington (, 1799) was a Founding Fathers of the United States, Founding Father and the first president of the United States, serving from 1789 to 1797. As commander of the Continental Army, Washington led Patriot (American Revoluti ...

's first term. They outlined a coherent program of national

mercantilism Mercantilism is a economic nationalism, nationalist economic policy that is designed to maximize the exports and minimize the imports of an economy. It seeks to maximize the accumulation of resources within the country and use those resources ...

government-assisted

economic development In economics, economic development (or economic and social development) is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and object ...

. *

First Report on the Public Credit The First Report on the Public Credit was one of four major reports on fiscal and economic policy submitted by Founding Father and first US Treasury Secretary Alexander Hamilton on the request of Congress. The report analyzed the financial stand ...

– pertaining to the assumption of federal and state debts and finance of the United States government (1790). Hamilton included his plan to tax

distilled spirit Liquor ( , sometimes hard liquor), spirits, distilled spirits, or spiritous liquor are alcoholic drinks produced by the distillation of grains, fruits, vegetables, or sugar that have already gone through alcoholic fermentation. While the w ...

s 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 pigouvian or

sin tax A sin tax (also known as a sumptuary tax, or vice tax) is an excise tax specifically levied on certain goods deemed harmful to society and individuals, such as Alcohol tax, alcohol, tobacco tax, tobacco, drugs, candy, soft drinks, fast foods, c ...

. However, his new tax set off the

Whiskey Rebellion The Whiskey Rebellion (also known as the Whiskey Insurrection) was a violent tax protest in the United States beginning in 1791 and ending in 1794 during the presidency of George Washington. The so-called "whiskey tax" was the first tax impo ...

which highlighted separation in social classes as rural

Pennsylvania Pennsylvania, officially the Commonwealth of Pennsylvania, is a U.S. state, state spanning the Mid-Atlantic (United States), Mid-Atlantic, Northeastern United States, Northeastern, Appalachian, and Great Lakes region, Great Lakes regions o ...

n 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 In United States history, the Second Report on the Public Credit, also referred to as The Report on a National Bank,Malone, 1960, p. 259 was the second of four influential reports on fiscal and economic policy delivered to Congress by the first ...

– pertaining to the establishment of a national bank (1790) *

Report on Manufactures In United States history, the Report on the Subject of Manufactures, generally referred to by its shortened title Report on Manufactures, is the third of four major reports, and '' magnum opus'', of American Founding Father and first U.S. T ...

– 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 In United States history, 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 Secretary of the Treasury, Alexander Hamilton. In addition to defendin ...

– pertaining to how to deal with the system of public credit after Hamilton's resignation, including complete extinguishment of the public debt (1795)

References

Concerning Support of Public Credit in Colonial America

* * * * * *

External links

* Alexander Hamilton American political philosophy Economic nationalism Federalist Party {{UnitedStates-stub

See also

References

Concerning Support of Public Credit in Colonial America

External links