Alexander Hamilton

A founding father of the United States

Wealth of Nations

Alexander Hamilton takes ideas from the book Wealth of Nations. They believe that agriculture is the source of all wealth, and that all agricultural products should be priced highly. He also takes the idea of the advantages for the division of labor and advantages of increased transportation.

Implied Powers

Hamilton came up with the implied powers doctrine. This means that the Constitution includes powers without naming them. This means that Congress can do what it needs to do to do its duties, but it can't do what the Constitution doesn't allow it.
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National Bank

Hamilton was able to create the bank because of his implied powers doctrine. Jefferson and Madison thought that creating a bank was unconstitutional. Hamilton said "The Constitution gives us many powers that are not written down, if not; the government could not run."
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Financial Development

Hamilton created the first Bank, the Bank of the United States. He created this to boost America's wealth. Hamilton wanted to increase the movement of money in the US. It would also help the national government give loans and collect taxes.

Critics

The south opposed having a national bank, they thought is would give power to few rich men in the North. They also it to get rid of the state banks because the farmers and small businesses depended on them. This bank would increase the amount of paper money used rather than gold and silver.
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