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<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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