Final answer:
Alexander Hamilton's economic program aimed to establish a strong financial foundation for the U.S., ensuring economic growth and national prosperity by focusing on the interests of the financial elite, securing public credit, establishing the Bank of the United States, and promoting manufacturing and commerce.
Step-by-step explanation:
Alexander Hamilton's economic program was designed primarily to strengthen the financial foundation of the United States and promote economic development throughout the nation. His approach included creating a robust federal government to manage the country's finances, akin to the British model, which allowed the wealthiest citizens who held securities to reinvest in government initiatives. Hamilton believed that focusing on the self-interest of the elite would bring about wider economic benefits, and his plan included managing public credit, supporting the establishment of the Bank of the United States, promoting manufacturing with reports such as the Report on Manufactures, and employing tariffs to stimulate domestic production.
His policy efforts aimed to make the fledgling republic creditworthy, foster commerce, establish a solid financial basis, and facilitate the growth of the stock market by securing investments from U.S. citizens in interest-bearing federal securities. Moreover, economic prosperity was seen as a means to secure liberty by reducing the need to tax private property directly through tariff revenues. This comprehensive plan received backing from President Washington and enacted by Congress, leading to the establishment of a national bank and the assumption of state debts, among other initiatives.