The Federalist Party Essay

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The Federalist Party was America’s first political party. The Federalist Party started in about 1789 with the election of George Washington as the nation’s first president. George Washington had gained fame in the colonies with his heroics as the commander of the Continental Army in the Revolutionary war and was a pivotal figure helping the colonies defeat England and gain their independence. Though Washington was considered independent throughout his terms he was very sympathetic to the Federalist movement. The Federalist Party actually was started by his appointee to Secretary of treasury Alexander Hamilton. Washington appointed Hamilton as Secretary of State and Hamilton immediately began forming the foundations that would build the Federalist Party. Alexander Hamilton was a close confidant to George Washington. Alexander Hamilton was a constitutional lawyer, founding father, and after becoming Secretary of State the primary policy maker for George Washington’s presidential administration. One of the first things Hamilton did was propose ambitious economic programs such as the Hamilton plans which included the First Report on Public Credit, the Second Report on Public Credit, and the Report on Manufacturers. The First Report on Public Credit was basically Hamilton’s plan to pay back borrowed money so that we would be able to borrow again. He did this by holding the government responsible for state debt. The plan called for state debts to be financed by U.S government bonds which Hamilton hoped would stimulate the economy even more. The Second Report on Public Credit was a proposition for a U.S. National Bank. This bank would basically provide currency and help regulate finance as well as make loans among other things. The third part of Hamilton’s plan was a Report on Manufacturers. The Report on Manufacturers was basically a plan to promote manufacturing and

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