What Was Hamilton's Plan

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8) Hamilton’s plan consisted of 4 parts, the assumption of debts, establishing a federal bank, and manufactures. The government had taken on large amounts of debt due to the revolution, and the act of paying them back wasn’t taken very seriously. Hamilton proposed that the federal government would pay off all state debts. To raise the money, he issued new security bonds. The Bank of the United States was modeled after the Bank of England. The bank would make the nation’s economy more dynamic. Hamilton also wanted to make manufacturers self-sufficient. Hamilton wanted the US to become a more mercantilist government which would protect the manufacturers against subsides and tariffs. The Bank of the United States was the most controversial because

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