Financialplan
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Financialplan

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Financialplan Financialplan Presentation Transcript

  • Great! We got a country! Now… What do we do with it? ?
  • Lets figure out this money thing… Alexander Hamilton, Washingtons secretary of the treasury, wanted to get American off to a sound financial start….
  • Lets figure out this money thing…Hamilton’s Plan: AssumptionPay off our old debts!(Old Govt. debts and state debts)South had already paid most of its debt off...stay tuned!Congress Agrees!Why?
  • Lets figure out this money thing… Hamilton’s Plan: National Bank Stabilize economy, make it easier for businesses, and deal with govt. money. (Wealthy investors owned 80% of bank) (Created in 1791 by Congress)
  • Lets figure out this money thing…• Hamilton’s Plan: Protective Tariffs Protects domestic (U.S.) businesses from foreign competition (Britain, France)• NOT approved by Congress although similar measures were passed eventually
  • Lets figure out this money thing…Hamilton’s Plan: Washington, D.C.Build it!Donated land from Maryland and Virgina
  • Lets figure out this money thing…Hamilton’s Plan: Excise TaxA tax on consumption of a particular good =WHISKEY!Raise $ for govt and proved the govt couldtax! (trouble brewing)
  • Hamilton’s Plan: What do you think?• VERY controversial• Encouraged the wealthy to support the govt (stable = safe for $)• Put the country on sound financial footing• Some people were not happy…
  • Hamilton’s Plan: Whiskey Rebellion• 1794: Pennsylvania farmers refused to pay excise tax on whiskey made from their grain• Washington called up the state militias to put it down• Federal Govt was NO JOKE!• Shays?