Although Hamilton already placed a tax on imported goods, he decided it would be more efficient if we put to a high tariff, or tax, on goods brought into the United States of America specifically from England.

Hamilton had a liking of American businessmen and truly longed for them to become rich, but it was indisputable that most people were buying goods of British creation due to their high quality. He also knew that “if Americans bought American goods, then American factory owners would become richer.” Hamilton did not wish for any one specific business to have more power over others. So, the idea was that people were so interested in buying higher quality items from England anyways, so adding or increasing the tax on these goods would lead to quicker redemption of the United States of America. Not only would the US be able to pay off their debt quickly, but all the businesses would be on the same level and would not overpower others.

This raise in taxes specifically targeted on items from England affected the rich and the poor as well because the tax related to a variety of items which both the rich and the poor were consuming at the time. “In 1792, the federal government imposed a tax on tea to pay off the nation’s debts from the American Revolution. The tax, which was payable only in cash, was particularly hard on small frontier farmers, who bartered and did not have access to hard currency.” His plan affected the average citizen because most farmers who were affected then did not have hard cash in order to pay their taxes. This was considered unconstitutional because of one part that was not approved by Congress. This part was to provide funding to manufacturers, in order to boost production and the economy. This failed in the end because of opposition from the South.

The overall plan for exchanging war bonds and arranging tariffs for imported goods as well as whiskey and tea was one of the effective ways that the debts of the United States of America was fulfilled.