Alexander Hamilton: America’s Financial Brainpower

One must wonder where would America be today financially and economically without the aide of Alexander Hamilton. Sometimes credited as Father of the Treasury, had a profound effect on the American economy. Born illegitimate on the West Indies island of Nevis, left orphaned and penniless at the age of 13, educated by a local clergyman, and in spite of his ruthless beginnings became our countries first Secretary of the Treasury (“Who Is That Guy on the $10 Bill). His contributions include the establishment of credit of our young country, formation of a national bank, the Bank of the United States, and the proposition of tariffs that provided revenue and encouraged manufacturing.
When Alexander Hamilton was appointed Secretary of the Treasury in September of 1789, he was faced with many dilemmas. The first dilemma was the national debt. By December 1789, the total public debt was up to $74,500,00 (Kraus 276). $12,000,000 of the debt was due to foreign countries for loans to finance t...