01/29 Do Now

Alexander Hamilton held which public office?

• President
• Secretary of the Interior
• Secretary of State
• Secretary of the Treasury

Tariff is  

• tax on imports 
• tax on exports 
• sales tax 
• income tax 

Hamilton's plan to eliminate the national debt focused on using tariffs and creating a banking system.

• True
• False

Some people opposed the banking system because they believed it violated the Constitution.

• True
• False

One benefit of the National Bank was?

• Make Loans.
• Safely deposit its money.
• Issue its own money.
• All of the above.

What group was affected by the excise (Whiskey) tax ?

• Democratic-Republicans

• Farmers

• Manufacturers

• Federalists

Why did Alexander Hamilton think a national bank would strengthen the central government?

• The bank would help provide stability for the U.S. economy.

• The bank would create a monopoly that would eliminate state banks.

• The bank would encourage foreign competition for manufactured goods.

• The bank would have the power to regulate interstate commerce.