GED Test Prep - Social Studies

Answer: C - Alexander Hamilton was the first U.S. Secretary of the Treasury. He played a crucial role in the creation of the Constitution and the definition of presidential cabinet members. He also created many of the financial institutions and practices that are still central to the American economy today. Hamilton founded the U.S. Mint and the first national bank; he instituted numerous tariffs, duties and excises; and he wrote many of the country's early tax laws. He also advocated that the federal government should assume the war debt of each state, thereby giving more power in the financial sector to the federal government over state governments.