After the states agreed to ratify the Constitution, George Washington became the country’s first president. He asked Hamilton to be the first Secretary of the Treasury. The role of Secretary of the Treasury was critical in the early days of the new nation. America’s most urgent problem was figuring out ways to pay its debts. The country had borrowed or promised a lot of money during the Revolutionary War. Hamilton proposed a national bank. Congress approved the idea in 1791. The bank had $10 million in capital. It could lend the government money and pay off state debts. Hamilton’s system also created a federal system to collect taxes. But not everyone accepted Hamilton’s views. Many of President Washington’s advisors called his cabinet opposed Hamilton. Opponents expressed many objections to Hamilton’s Bank of the United States. Generally, members of Congress from the northern states supported the idea, while those from southern states opposed it. Another political leader, Thomas Jefferson, said the Bank exceeded the powers of the Constitution. Hamilton defended the Bank. He argued for a broad interpretation of the Constitution. He thought it permitted the federal government to do what it needed to do to strengthen the country’s economic system. Hamilton largely won his political arguments.
Title: Alexander Hamilton: Father of American Banking
Content: <div id='article-page'><div id='article-content' data-media-url='//news-app-staging.s3.amazonaws.com' data-base-url='//news-app-staging.herokuapp.com' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/806/ham_audio.m4a' data-capture-url='//staging.analytics.lingraphica.com/events/capture_news' data-article-title='Alexander Hamilton: Father of American Banking' data-article-id='1217'><script src='//news-app-staging.herokuapp.com/javascripts/getscripts.js'></script><link rel='stylesheet' href='//news-app-staging.herokuapp.com/stylesheets/article.css' type='text/css' /><div class='article'><p><span data-start-time='0' data-end-time='7500'>After the states agreed to ratify the Constitution, George Washington became the country’s first president. </span> <span data-start-time='7500' data-end-time='11667'>He asked Hamilton to be the first Secretary of the Treasury.</span> <span data-start-time='11667' data-end-time='17688'>The role of Secretary of the Treasury was critical in the early days of the new nation. </span> <span data-start-time='17688' data-end-time='23792'>America’s most urgent problem was figuring out ways to pay its debts.</span> <span data-start-time='23792' data-end-time='30125'>The country had borrowed or promised a lot of money during the Revolutionary War.</span> <span data-start-time='30125' data-end-time='32958'>Hamilton proposed a national bank. </span> <span data-start-time='32958' data-end-time='37271'>Congress approved the idea in 1791. </span> <span data-start-time='37271' data-end-time='41083'>The bank had $10 million in capital. </span> <span data-start-time='41083' data-end-time='46375'>It could lend the government money and pay off state debts. </span> <span data-start-time='46375' data-end-time='52021'>Hamilton’s system also created a federal system to collect taxes.</span> <span data-start-time='52021' data-end-time='55854'>But not everyone accepted Hamilton’s views.</span> <span data-start-time='55854' data-end-time='62375'>Many of President Washington’s advisors called his cabinet opposed Hamilton.</span> <span data-start-time='62375' data-end-time='68063'>Opponents expressed many objections to Hamilton’s Bank of the United States. </span> <span data-start-time='68063' data-end-time='77896'>Generally, members of Congress from the northern states supported the idea, while those from southern states opposed it.</span> <span data-start-time='77896' data-end-time='85917'>Another political leader, Thomas Jefferson, said the Bank exceeded the powers of the Constitution.</span> <span data-start-time='85917' data-end-time='88458'>Hamilton defended the Bank. </span> <span data-start-time='88458' data-end-time='92833'>He argued for a broad interpretation of the Constitution. </span> <span data-start-time='92833' data-end-time='101188'>He thought it permitted the federal government to do what it needed to do to strengthen the country’s economic system.</span> <span data-start-time='101188' data-end-time='105417'>Hamilton largely won his political arguments. </span> </p></div><div class='control-buttons-sticky' style='display:none;'><div class='control-buttons'><button title='Back' class='back' disabled='disabled'></button><button title='Play' class='play' disabled='disabled'></button><button title='Pause' class='pause' style='display:none;'></button><button title='Forward' class='forward' disabled='disabled'></button><button class='finished-reading' style='display:none;'>Done</button></div></div></div><div id='article-media'><div id='media-image'><img src='https://news-app-production.s3.amazonaws.com/articles/806/ham_image.jpg'/></div></div><div id='question-content' style='display:none;'><div class='vocabulary_question question-container' data-question-id=5227 data-hint-location='0' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/806/what_does_ratify_mean.m4a'>What does ratify mean?</div><div class='choices' data-correct-choice='to make official by signing it or voting for it'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/806/immediate_attention.m4a'><span>immediate attention</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/806/wrong_or_illegal.m4a'><span>wrong or illegal</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/806/to_make_official_by_signing_it_or_voting_for_it.m4a'><span>to make official by signing it or voting for it</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/806/the_main_idea.m4a'><span>the main idea</span></div></div></div><div class='multiple_choice_question question-container' data-question-id=5228 data-hint-location='17688' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/806/what_was_americas_most_urgent_problem_after_the_war.m4a'>What was America's most urgent problem after the war?</div><div class='choices' data-correct-choice='debt'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/806/independence.m4a'><span>independence</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/806/debt.m4a'><span>debt</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/806/states_rights.m4a'><span>state's rights</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/806/slavery.m4a'><span>slavery</span></div></div></div><div class='sentence_completion_question question-container' data-question-id=5229 data-hint-location='7500' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/806/hamilton_became_the_first_secretary_of_the__blank_.m4a'>Hamilton became the first Secretary of the <span class='blank'>Treasury</span>.</div><div class='choices' data-correct-choice='Treasury'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/806/treasury.m4a'><span>Treasury</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/806/defense.m4a'><span>Defense</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/806/state.m4a'><span>State</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/806/foreign_affairs.m4a'><span>Foreign Affairs</span></div></div></div><div class='question-buttons'><button class='skip-button'></button><button class='hint-button'></button><button class='speak-button'></button></div></div></div>
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