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| Hamilton devised polices to strengthen the nation's credit, enable it to defer paying its debt, and entice the upper class to place its prestige and capital at the nation's service. Congress received on January 1790. it listed $54 million in US debt $42 million owed to Americans and the rest to foreigners. Hamilton then estimated that on top of national debt, the states promised to reimburse $25 million. This proposed that the federal government use the same means to pay off state debts remaining from the revolution. |
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| Hamilton made this in December 1791. It advocated protective tariffs on imports to foster domestic manufacturing. |
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| Bank of the United States: |
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| Hamilton argued that the bank would cost tax payers nothing and greatly benefit the nation. Provides a safe place for federal deposits, make inexpensive loans to government when taxes fell short, and relieve the scarcity of hard cash by issuing paper notes. It would also regulate the business of state banks and provide much needed credit for economic expansion. In 1791 received a 20-year charter. |
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| Passed in 1793 required judges to award possession of a runaway slave on a formal request by a master or his representative. It denied free blacks legal protections Marked departure from the atmosphere of 1780s. |
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| Hamilton proposed an excise tax on whiskey to augment national revenue, passed in March 1791. In July 1795 100 men attacked a US marshal serving delinquent tax payers with summoners to appear in court. 500 (crowd) burned the chie |
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