Hamilton's Financial Plan
This worksheet explores Alexander Hamilton's financial plan for the early United States, including its key components and impact.
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Hamilton's Financial Plan
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Read each question carefully and answer to the best of your ability.
1. What was the primary goal of Alexander Hamilton's financial plan?
To promote agrarianism and limit industrial growth
To establish a strong, stable national economy
To reduce the power of the federal government
To eliminate all national debt immediately
2. Which of the following was NOT a component of Hamilton's financial plan?
Creation of a national bank
Assumption of state debts by the federal government
Abolition of tariffs on imported goods
Funding of the national debt at face value
3. The Compromise of 1790 involved moving the nation's capital to in exchange for Southern support of Hamilton's assumption plan.
4. Hamilton proposed a protective to encourage American manufacturing and generate revenue for the federal government.
5. Thomas Jefferson strongly supported the creation of a national bank, believing it was essential for economic stability.
True
False
6. Hamilton's plan to fund the national debt at face value was controversial because many war bonds were held by speculators.
True
False
7. Explain the concept of 'assumption of state debts' and why it was a contentious part of Hamilton's plan.
8. What were the main arguments for and against the establishment of a national bank?