I assume that when you ask us to "reflect on" Hamilton,
you are asking why he was of "central importance" to the economic strength and stability
of the US. If so, I would argue that Hamilton's ideas of assuming the states' debts, of
tariffs, and of a national bank did a great deal to ensure that the US would grow into
an economically stable country.
By having the federal
government assume the state debts, Hamilton ensured that the US would have the ability
to borrow money. This allowed the government to do more things to, for example, create
infrastructure like roads.
By setting up a system of
tariffs, Hamilton protected infant industries in the US from foreign competition. This
allowed the US to become industrialized.
Finally, the idea
of a national bank was very important. This would allow government funds to circulate
and stimulate the economy. It would also be able to make sure that the currency would
remain sound and money would not suffer from excessive
inflation.
All of these things were Hamilton's ideas and
all of them helped to strengthen and stabilize the US economy.
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