Alexander Hamilton
Alexander Hamilton, Secretary of the Treasury, presents his Report
on Public Credit to Congress on how to deal with the $80 million
Revolutionary War debt. He recommends a duty on imports and
an excise tax whiskey distillers to pay the interest on this debt.
on Public Credit to Congress on how to deal with the $80 million
Revolutionary War debt. He recommends a duty on imports and
an excise tax whiskey distillers to pay the interest on this debt.
To get the tax enacted, he had to show that it was not burdensome, and even possibly beneficial to people. But to get the tax collected, the Government collects the tax from the producer, not the ultimate consumer. This concept is still used in the collection of Federal alcohol excise taxes today.
A receipt of the whiskey tax
Hamilton's Report
Alexander Hamilton's Plan
• The federal government would consolidate federal and state debt
• The federal government would both pay federal and state debt
• The interest on the debt would be paid by tariffs and excise taxes
• The federal government would consolidate federal and state debt
• The federal government would both pay federal and state debt
• The interest on the debt would be paid by tariffs and excise taxes