HIST 2055 Chapter : 10/21-10/28
Document Summary
1789 after constitution is ratified george washington becomes president. Washington (there is no party system): hamilton: 1790-91! Both hamilton and jefferson are nationalists and want the us to succeed. Outlier in founding fathers because most are born wealthy and well educated, etc. Hamilton is born out of wedlock and raised by a single mother, but is extremely smart. Works under washington as an aid in the war and becomes secretary of treasury. Debt is the first issue to be resolved. Wants the federal government to absorb the cost of the war and to pay it back. People don"t trust paper money - they trust specie (coin). Want to reward the people who take risks and invest in the country. Organizes a plan for debt (national bank, investment in infrastructure, promote economic growth actively by having federal government participate). He sees a country whose strength comes from a mixed economy (agriculture, trade, etc).
