Hamilton’s Economic Policies

Compared to the severe financial instability of the 1780s, the 1790s brimmed with opportunity, as seen in improved trade, transportation, and banking. In 1790, the federal government moved from New York City to Philadelphia, a more central location with a substantial mercantile class. There, Alexander Hamilton, secretary of the treasury, embarked on multiple plans to solidify the government’s economic base. But controversy ensued. His ambitious plans to fund the national debt, set up a national bank, promote manufacturing through trade laws, and raise revenue via a tax on whiskey mobilized severe opposition.