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Why Did the Federalist and First Secretary of the Treasury

question 38

Essay

Why did the Federalist and first Secretary of the Treasury Alexander Hamilton insist on creating a permanent national debt and a national bank? What was he hoping to accomplish? Why did his Republican opponents disavow his approach to the U.S.economy? What was Hamilton's legacy?


Definitions:

Straight-Line Depreciation

Depreciation method in which the amount taken to depreciation expense each year is constant and equal to 1/n times the depreciable amount, where n is the depreciable life of the asset.

Salvage Value

The estimated residual value of an asset at the end of its useful life.

Opportunity Cost

The receipts from the next most valuable forgone alternative when making a decision or choice among many options.

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