Hamilton’s vision for reshaping the American economy included a federal charter for a national financial institution. He proposed a Bank of the United States. Modeled along the lines of the Bank of England, a central bank would help make the new nation’s economy dynamic through a more stable paper currency.

What were the 4 parts of Hamilton’s economic plan?

Terms in this set (51) 1790-1791: tries to stable American finances. 1) Assumption of State debts 2) Creation of a National Bank 3) Promotion of the manufacturing industry. First two are passed.

What were two pros and two cons of Hamilton’s economic plan?

Terms in this set (10)
State debts pros. – clean slate. State debts cons. – different amount of debt.Foreign Debts pros. – good credit. Foreign debts cons. – govt only benefiting the wealthy.National bank pros. – stable currency. National bank cons. – ruled by the rich. Tariff pros. – raises money. Tariff cons. – expensive products.