HIUS 221
TOPICS IN AMERICAN HISTORY: ESSAY EXAMPLE
Please review the sample provided on the following page for the Topics in American History:
Essay Assignment.
Bethany Crumley
September 26, 2025
HIUS 221 – BO2
How did Alexander Hamilton's economic policies shape early America?
After the Revolutionary War, America was faced with an uncertain future and significant
financial problems. Fear not, though, a brave soul would step up to rescue the nation and make
America great again. This young nation would wait with patience and intent to see if this person
could save them or if all was lost. History, though, would be written. Alexander Hamilton's
economic policies changed and shaped early America by dealing with debts from the war,
creating a national bank, and pushing for American-made goods.
Right away, Hamilton faced the national debt head-on. He suggested that the federal
government should take on all state debts from the Revolutionary War (DeConde, 2025). With
these debts under federal control, it would now be easier to give the country improved
credibility. Once again, the American new system could finally be somewhat financially reliable.
This route would hopefully encourage the rich individual population to buy the federal securities
because they had state bonds. Furthermore, Hamilton gained trust from both domestically and
abroad in America's financial system by resolving the debts quickly. As the nation’s finances
continued to improve, this was not the end of Hamiliton’s plans; there was something even
bigger about to happen.
Hamilton wasn't done reshaping America's money matters. The thought of opening a
national bank would help the country’s finances stay strong and protected. In 1790, Hamilton
presented this idea of starting a $10 million national bank to Congress. As Hill (2015) describes,
the bank “collected tax revenues, secured the government's funds and made loans, transferred
government deposits through the bank's branch network, and paid the government's bills”. In
1791, the First Bank of the United States was opened. This was a huge leap toward the
American banking system, offering many benefits. This includes an easier way of collecting taxes
and paying bills, which means the country’s finances would be stable. Another advantage was
that the economic money population could now grow because it could provide loans to
different states. Unfortunately, not everybody agreed with Hamilton’s ideas; people like Thomas
Jefferson disagreed. In the end, Hamilton remained strong with the idea that the government
was under the Constitution.
In December 1791, Hamilton spoke out on how America made its goods and presented
them to Congress. His plan was to support the industries by having protective tariffs against
other countries’ products. This would hopefully prevent heavy taxation. (Sylla, 2024, p. 124).
With all of this in motion, the American economy could become more diverse and decrease its
reliance on supplies from foreign nations. Congress didn’t seem to be all that interested in
Hamilton’s obvious vision because they were ultimately busy with other things. A lot of leaders
believed farming was more important than factories. Also, the people had their concerns that it
would make goods more expensive for them. It did take a good bit of time for people to really
understand the benefits of Hamilton’s vision for a strong manufacturing sector. In the end,
though, it provided an idea of the potential development of the industry.
Hamilton’s courage to take bold steps helped America get on its feet again. America
could now have a strong economy because of Hamilton’s economic policies to fix the national
debt, create a national bank, and push for American-made goods. Countries will always continue
to change and grow over time, but a person’s ideas can remain in history forever. This should tell
us that we should be careful when coming up with ideas, whether they are big or small. Our way
of figuring things out will change the future and what it holds. Hamilton is a good model of how
one person’s ideas, even if it is daring, can stay in history. Everybody has a role in making the
world a better place. The question is, will we change the world for the good of others and
ourselves, or will we be afraid to speak out because it’s too risky?
References
DeConde, A., (2024). 18b. Hamilton's Financial Plan - USHistory.org. Retrieved from
https://www.ushistory.org/us/18b.asp?
.
Hill, A. (2015, December 4). The First Bank of the United States | Federal Reserve
History. www.federalreservehistory.org; Federal Reserve History.
https://www.federalreservehistory.org/essays/first-bank-of-the-us
Sylla, R. (2024). Alexander Hamilton’s Report on Manufactures and Industrial Policy. The
Journal of Economic Perspectives, 38(4), 111–130.
https://www.jstor.org/stable/27341549
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