Transcript Alexander Hamilton - Team Lewis Wikispace

What are we to do
with this heavy debt?
Robert Morris
There is but one
man in the United
States who can tell
you; that is…
National Debt – The amount of
money owed by the United States to
various creditors
- Born January 11, 1755 or 1757
- Political party : Federalist
- 1st Secretary of Treasury
- Revolutionary War :
Battle of Harlem Heights
Battle of White Plains
Battle of Trenton
Battle of Princeton
Battle of Brandywine
Battle of Germantown
Battle of Monmouth
Siege of Yorktown
The United States
owes about
$11.7 million to
foreign countries,
and around
$40.4 million to
American creditors!
Bonds – Certificates that represent money
owed by the government to private citizens
Bonds – Certificates that represent money
owed by the government to private citizens
Speculators?
- Investors who buy items at low pries in the hope that the value will rise later
(Keep the bond)
(Speculators buy the
bond in lower price)
Less profit than
Speculators
More profit than
Original Bondholders!
Alexander
Hamilton
Thomas Jefferson
&
James Madison
July 1790
- The House of Representatives approved the debt assumption plan
- Present day Washington, D.C., was chosen as the new national capital.
Power of the government
Central VS States
Direction of the country
Manufacturing
VS
Agriculture
Establishing a national bank would
provide a safe place to deposit
government funds and would serve
as a reliable source of loans for the
government and businesses! The
power of the national bank will be
limited by 20-year charter!
Does Constitution give
Congress the power to start
national bank?
Yes! Article 1, Section 8, of the
Constitution states that Congress
has the right “to make all laws
which shall be necessary and
proper” for running the nation!
February 25, 1791
Aaron Burr
- Alexander Hamilton was appointed as the 1st Secretary of
Treasury on September 11, 1789.
- Alexander Hamilton’s debt assumption plan was approved by
House of Representatives on July, 1790.
- There were many arguments between Alexander Hamilton and
Thomas Jefferson; they fought over topics such as power of the
government and direction of the country.
- United States Congress charter the Bank of the United States
on February 25, 1791.
- Alexander Hamilton got shot by Aaron Burr on his lower
abdomen during the duel on July 11, 1804, which eventually made
him die on the following afternoon, July 12, 1804.