Question

Explain Alexander Hamilton’s plan to address the national debt, the compromises eventually reached, and the degree to which those plans created a stable postwar economy.

Answer 1

Alexander Hamilton proposed a plan to address the national debt by consolidating it into a single national debt, creating a national bank, and implementing protective tariffs. These measures were controversial but played a significant role in creating a stable postwar economy.

Step-by-step explanation:

Alexander Hamilton's plan to address the national debt involved several key measures. First, he proposed to consolidate all of the states' debts into a single national debt. Second, he suggested that the federal government assume these debts and repay them in full. Third, Hamilton proposed the creation of a national bank to provide stability and support the economy.

Lastly, he advocated for the implementation of protective tariffs and subsidies to encourage domestic manufacturing. These measures faced significant controversy, with opponents arguing that they gave the federal government too much power. Despite the debates, Hamilton's plan ultimately laid the foundation for a stable postwar economy.