Final answer:
Hamilton's economic plan included establishing a national bank for credit and assuming state debts
Step-by-step explanation:
Hamilton's Economic Plan
A. National Credit: Hamilton proposed establishing a national bank to create a strong line of credit for the government. This would allow the government to borrow money to fund projects and repay debts. The bank would also provide stability to the nation's economy by regulating the money supply.
B. Assumption: Hamilton suggested that the federal government assume the debts incurred by the states during the Revolutionary War. This would centralize and manage the debts, giving the federal government more control over the economy and establishing the creditworthiness of the United States in the eyes of foreign nations.
Both aspects of Hamilton's plan aimed to boost the U.S. by providing financial stability, stimulating economic growth, and establishing the country as a reliable borrower in the international community.
Learn more about Hamilton's economic plan for the U.S.