Chapter 6 Section 2: Hamilton and Finances

Front

What was the total debt of the United States after the Revolutionary War?

Back

$25 million

Front

Who was the first Secretary of the Treasury of the United States?

Back

Alexander Hamilton

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.

Front

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

Back

Paying off or reducing the national debt.

Front

What was one of Hamilton's strategies to improve the national economy?

Back

Paying the states' debts.

Front

Which states had less war debt after the Revolutionary War?

Back

Virginia and North Carolina.

Front

What was the purpose of Hamilton's financial plan?

Back

To stabilize the American economy and establish credit.

Front

What role did the federal government play in state debts according to Hamilton's plan?

Back

The federal government would assume state debts.

Front

What was the significance of the location of the capital in relation to the Southern states?

Back

It was seen as a compromise to appease Southern states.

Front

What was one of the main criticisms of Hamilton's financial policies?

Back

They favored Northern states over Southern states.