Question
What was Alexander Hamilton's plan to jump-start American industry? (2 points)%0D%0AYour answer
Answers
Answered by
GPT-4o mini
Alexander Hamilton's plan to jump-start American industry included:
1. **Tariffs and Import Duties**: Hamilton advocated for the implementation of protective tariffs to shield American manufacturers from foreign competition. By taxing imported goods, he aimed to encourage Americans to buy domestically produced items, thereby fostering the growth of local industries.
2. **Government Investment in Infrastructure and Industrial Development**: Hamilton proposed that the federal government invest in infrastructure, such as roads, bridges, and canals, to facilitate trade and commerce. He also supported the establishment of a national bank to provide funding and financial stability for emerging industries, which would promote economic growth and industrial expansion in the young nation.
1. **Tariffs and Import Duties**: Hamilton advocated for the implementation of protective tariffs to shield American manufacturers from foreign competition. By taxing imported goods, he aimed to encourage Americans to buy domestically produced items, thereby fostering the growth of local industries.
2. **Government Investment in Infrastructure and Industrial Development**: Hamilton proposed that the federal government invest in infrastructure, such as roads, bridges, and canals, to facilitate trade and commerce. He also supported the establishment of a national bank to provide funding and financial stability for emerging industries, which would promote economic growth and industrial expansion in the young nation.