Question

Describe Alexander Hamilton’s plans to address the nation’s financial woes. Which aspects proved most controversial, and why? What elements of the foundation Hamilton laid can still be found in the system today?

Answer 1

Answer:

Alexander Hamilton wanted to "assume state debt and establish a national bank". However, his plan would have the government assume state's debt which would benefit where Hamilton sat politically, which was obviously quite controversial. As well as this it was really long, so most people didn't understand it.

Hamilton also argued that centralized debt would ease the flow of capital through the new nation.

Explanation:

Just listen to cabinet battle #1 from the Hamilton musical.

Answer 2

Hamilton planned to create a National Bank, which would be called the First Bank of the United States.

For Hamilton, the creation of this bank would be beneficial because it would allow the centralization of national credit and let the federal government handle the debts of the states.

This plan was controversial because:

• The Constitution did not provide for the creation of a central bank.
• This made the central bank unconstitutional, that is, outlawed.
• The states believed that this would be dangerous, that it would give too much power to the federal government and that it would weaken the states.

The existence of national credit and Central Bank was something positive in Hamilton's plan and we can see these two elements even today.

More information:

https://brainly.com/question/21767863?referrer=searchResults