Alexander Hamiltons Financial Plan Im on the 10

Alexander Hamilton’s Financial Plan I’m on the $10 Bill! Natalie Martin is currently reading this book about me! Take out your notes, a writing instrument, and a Red Book to share from a broken, with the person next to you dysfunctional. I came family and became one of the most powerful men in the early U. S. !

P 294 -297, Red Book, starting at “Economic Problems” 1. What was the primary early money problem that the United States faced? 2. Who did Washington choose as the nation’s first ever Secretary of the Treasury? 3. What were three points of Hamilton’s plan? 4. What is revenue (the book doesn’t tell you – guess by using context)? 5. What are tariffs?

What was the primary early money problem that the United States faced? A. War debt 2. Who did Washington choose as the nation’s first ever Secretary of the Treasury? A. Alexander Hamilton 3. What were three points of Hamilton’s plan? A. Pay off debts B. Establish taxes & tariffs to raise revenue C. Establish a National Bank 1. 4. What is revenue? A. 5. Income! Money! What are tariffs? A. Taxes on imports

For each of these questions, come up with more than one reason, or more than one example to support your reason. 6. Why is paying off debts important? 7. Why is it important to raise revenue*? (*not in book – think about it!) 8. What are the possible benefits of a tariff?

6. 7. Why is paying off debts important? A. To build credit/trust with those who can lend – especially since you might need to borrow more in the future B. To not offend friends that you might need Why is it important to raise revenue? A. 8. So that the government can spend money on things! 1. Military 2. Roads 3. Postal Service, etc. What are the possible benefits of a tariff? A. Gives the government money B. Helps companies in your home country

#9 is not in the book – you will need to use your brain and each other’s brains and hypothesize! 9. What are the possible dangers of a tariff? 10. What’s Bank? the point of having a National

9. What are the possible dangers of a tariff? A. Might initiate a trade war, which can actually hurt you in the long run B. Can damage relationships with other countries C. Doesn’t force a company to make competitive products D. Might encourage people to buy inferior products 10. What’s the point of having a National Bank? A. It gives the government a safe place to store money B. It can greatly help the economy; for example: 1. The National Bank can make loans to businesses 2. The country can then issue paper money instead of making coins out of all their valuable metals.