jan 1, 1790 - Hamilton's Financial Plan

Description:

-Hamilton (Secretary of Treasury) called for federal assumption of state debts, creation of the Bank of the United States, and supported the nation's emerging industries
-States with little debt did not support it and claimed he didn't have the power to make a national bank
-Elastic Clause: Congress has the power to enact "necessary and proper" laws
-National bank was effective and stabilized the eocnomy

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