How a Bank Works | Impacts of Hamilton's plan | Hamilton's Financial Plan | People who help Hamilton and how his plan helps other people | Facts about Alexander Hamilton |
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Banks make money by getting interest from loans and deposits
How do banks make their money?
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Hamilton wanted to gain their support for the new government.
Why did Hamilton think that paying back the rich men who the US loaned money from was a good idea?
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Hamilton's Financial plan reflected Hamilton's belief in a strong central government
Hamilton's Financial plan reflected Hamilton's belief in a strong ______________ government
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Hamilton wanted the federal government to pay off war debts of the states, but the southern states had already paid off their debts and did not want to help the Northern states with paying theirs.
Why did Hamilton ask Thomas Jefferson to help him gain southern support?
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TRUE
TRUE OR FALSE:
Alexander Hamilton was a founding father |
The loans allow the businesses to created more products, which allows them to higher wages and then pay back the loans.
Why do loans from a bank help businesses expand and grow?
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The bank could help pay back war debts from the Revolutionary War to now
Why did Hamilton think the bank was a good idea?
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Congress
Who did Hamilton present his plan to after he created it?
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The southern states would help the Northern states pay their war debts if, the Northerners agreed to place the Nations capital in the South (it is now in Washington DC)
What was the compromise that the Southern and Northern States came to after the Southern states agreed to help the Northern States pay their war debts?
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Ratifying the constitution and creating his financial plan.
What is Hamilton best known for?
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Banks work with three steps that repeat itself
STEP 1: Workers use their wages to buy the goods and services they want. They deposit some money into their bank as savings because banks pay them interest STEP 2: Banks use the money they receive in deposits to lend to people who need it. Banks charge interest for this STEP 3: Businesses use the loans to create new products and higher wages
How do Banks work?
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a tax on imported goods.
What are tariffs?
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paying off all the war debts, raising government revenues, and creating a national bank
According to Hamilton, what were the three steps to improving the nations finances?
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Hamilton showed the other countries to show that the US was responsible with money and allow them to loan money from these other countries and places.
Why did Hamilton show other countries that the U.S. was responsible with money?
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He was born in Central America in Charlestown, St Kitts & Nevis
Where was Alexander Hamilton born?
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