Who was the First Secretary of the Treasury and advocated for a national bank?

The First Secretary of the Treasury was Alexander Hamilton, who played a crucial role in shaping the early financial system of the United States. Hamilton advocated for the establishment of a national bank, believing it was essential for managing the nation's debts and providing a stable currency. His proposals laid the foundation for modern American finance and helped to stabilize the post-Revolutionary War economy.

Hamilton's vision included not just a national bank but also a system of public credit that would enable the government to borrow money more effectively. He argued that a national bank would foster economic growth by providing loans to businesses and facilitating trade. His economic policies, including the assumption of state debts by the federal government, were met with both support and opposition, contributing to the formation of political factions in the early republic. His role and influence were pivotal in establishing a strong central government and a functioning financial system, which are foundational aspects of the U.S. economy today.