6th grader needs to answer question listing the benefits of the Hamiltonian economic plan in one paragraph. Help please!
I hope this information is in the 6th-grader's text book. If not, check these sites.
http://en.wikipedia.org/wiki/Hamiltonian_economic_program
http://www.answers.com/topic/hamilton-s-economic-policies
Thank you for your help!
Thanks for helping us!
Sure! To answer the question, "What are the benefits of the Hamiltonian economic plan?" in one paragraph, you would need to consider the key components of Alexander Hamilton's economic approach. Here's a step-by-step guide on how to approach this task:
1. Define the Hamiltonian economic plan: Start by explaining what the Hamiltonian economic plan encompasses. It was a set of policies proposed by Alexander Hamilton, the first Secretary of the Treasury of the United States, in the late 18th century. It aimed to promote a strong federal government, industrialization, and economic growth.
2. Identify the main benefits: Highlight the positive impacts of the Hamiltonian economic plan. Some key benefits include:
- Industrialization and economic growth: Hamilton's plan encouraged the growth of domestic manufacturing, which helped stimulate the economy and reduce dependence on imports.
- Strengthening the federal government: The plan aimed to centralize power and establish a strong federal government, which allowed for more consistent and efficient economic policies.
- Reducing national debt: Hamilton proposed measures to manage and reduce the national debt, which enhanced the country's financial stability and credibility.
3. Provide supporting details: Elaborate on each benefit by providing specific examples or evidence. For instance:
- Industrialization and economic growth: Hamilton promoted protective tariffs to protect American industries, established the Bank of the United States to provide financial stability, and advocated for infrastructure projects (such as roads and canals) that facilitated trade and economic expansion.
- Strengthening the federal government: Hamilton's economic plan sought to consolidate power with the central government by establishing a national bank and promoting a strong executive branch. This allowed for more unified economic decision-making and enforcement.
- Reducing national debt: Hamilton proposed funding the national debt through securities and implementing excise taxes, which gradually reduced the debt burden and enhanced the government's financial standing.
4. Summarize the paragraph: After explaining the benefits and presenting supporting details, conclude the paragraph by briefly summarizing the overall positive impact of the Hamiltonian economic plan on the nation's economic development and security.
Remember, the paragraph should be concise and well-structured. It's also essential to use your own words and understanding of the topic. Good luck!