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The Bank that Hamilton Built - In Brief

Phil Davies - Senior Writer

Published September 1, 2007  |  September 2007 issue

Blueprint for a bank

  • The First Bank of the United States, championed by Alexander Hamilton, formed the blueprint for today's monetary economy based on a stable currency and access to credit.

  • The bank worked hand in hand with the first Treasury secretary's other financial reforms—paying off war debt and establishing a stable monetary standard—to put the federal government's finances in order and stoke the fires of enterprise at the beginning of the Industrial Revolution.

  • Political opposition doomed Hamilton's bank. But the institution he created laid the foundation for a second national bank and, almost a century later, for the establishment of the Federal Reserve System.

The Bank that Hamilton Built [complete article]

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