Relationship Between George Washington And Alexander Hamilton

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Alexander Hamilton met George Washington when he was his secretary of treasury. George Washington used him to help with his army that he had. When Alexander Hamilton helped George Washington he realized America was really finacial under.Alexander Hamilton didn’t like the fact the United States were in debt so he decided to make a banking system to get America out of debt. With the help of George Washington, Alexander Hamilton set up a national banking system in major cities across the United States. Alexander Hamilton planned to retire the old depreciated obligations by borrowing new money at a lower interest rate. In the beginning, Alexander Hamilton proposed the idea for solving the debt problem the United States to George Washington. George Washington wasn't too thrilled about that idea because he thought it violated the constitution and did not support Alexander Hamilton's idea on solving the United States dept. Alexander Hamilton later advocated his idea of the national bank of exerting objections by Thomas Jefferson explaining that it wouldn't violate the constitution to congress and George …show more content…

With George Washington is agreeing with the plan to build the bank with Alexander Hamilton, they had to decide where it was going to be built. Alexander Hamilton and George Washington decide to place the National Bank in Philadelphia. This provided three hundred plus jobs and more tax collector offices. After Alexander Hamilton and George Washington agreed on Philadelphia they had to decide how the system of the bank was going to work. The bank was going to be used for loans, accepting deposits, issuing banknotes and purchasing securities. Five out of the twenty five were picked by the United States and the twenty others were picked by the private investors. The bank had to have investors to provide loans to consumers to make a profit on the fees and

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