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One of the pressing problems facing George Washington and his new administration was the economical and financial strains of America The state government had accumulated a massive debt and with continued interest was growing at astronomical rates To the United States the cost of Britains victory in the Seven Years War was immense and was the beginning of Americas financial and economical down fall How was America going to correct its economical and financial situation An economical program brought fourth by Alexander Hamilton was the cause for optimism Hamiltons economic program was to resolve Americas economical and financial constraints and enable America to grow into a prosperous and powerful nation According to Alexander Hamiltons economical program America needed to install a system of public credit create a national bank and help aid the nations industries If these three steps were undertaken by George Washingtons administration it would lead to a revitalized American economy and vault America into a leading economical and financial power When George Washington took office and became the first president of the United States in 1789 Americas financial and economical sectors were in disarray As the leader of American forces during the Revolution his choice as president was unanimous During Washingtons administration it was the cabinet not the congress that dictated policy The congress at the time was small therefore contained few if any powers The US government at this time contained four cabinets with the head of each cabinet meeting regularly with George Washington The four cabinets in the Washington administration included The Department of State The Department of War The Attorney Generals office and The Department of Treasury Thomas Jefferson and important figure in the cabinet headed the Department of State while Alexander Hamilton headed the Department of the Treasury The Department of the Treasury was by far the most powerful cabinet in the Washington administration because it housed 30 clerks by far outnumbering the other three cabinets
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