Flashcard on Alexander Hamilton's Financial Plan

Front

Why did Alexander Hamilton need to create a financial plan?

Back

To help the U.S. grow strong after the Revolutionary War

Front

How did Hamilton plan to make trading and borrowing easier?

Back

By setting up a national bank

Front

What was one of the reasons the U.S. was in debt after the Revolutionary War?

Back

Owed money to other countries and people

Front

What did Hamilton's plan include besides paying off debts?

Back

Creating a way to collect taxes on goods

Front

What was the national bank supposed to help with besides storing money?

Back

Giving out loans to businesses and people

Front

What did Hamilton believe about the Constitution and the national bank?

Back

It allowed for the creation of a bank through the Necessary and Proper Clause

Front

What did Hamilton's plan help build the foundation for?

Back

The U.S. financial system

Front

What did Jefferson believe a national bank might do to farmers and small businesses?

Back

Hurt them

Front

What was one reason Jefferson opposed the national bank?

Back

It might give the government too much power

Front

What did Hamilton believe the national bank would do for the country?

Back

Make it stronger