Of Alexander Hamilton's three major suggestions as Secretary of the Treasury, his Report on Manufactures was the only one to be turned down. Both the Bank and Assumption of State Debts were accepted by the Congress, yet not his program to grow industry in America. But exactly what was he suggesting in his report? I have a copy of it, and the main suggestions appear to be the following:.
1- Protecting Duties, which I assume to be the same as a tarrif.
2- Prohibitions of rival articles or duties equivalent to prohibitions. This I do not understand, and any help with the topic I would appreciate.
3- Prohibitions of the exportation of the materials of manufactures. This I am also fuzzy on. Either it suggestions banning the exporation of raw materials needed for growing industries, or banning the exporation of finished products so Americans can enjoy them.
4- Pecuniary bounties. General investment to particular products in general. I believe.
5- Premiums. Similar to bounties, but only to items which are above the norm.
6- Exemption of the materials of manufactures from duty. Tax exemption for certain indsutries, no?.
7-?? The copy I'm using has a . avter seven, and then picks up back at 8. Can anyone fill this in?.
8- Encouragement of new inventions and discoveries. Not only granting patents and the like, but his suggestion also seems to suggest money for those who introduce inventions already used in Europe to America.
9- Judicious regulations for the inspection of manufactured commodities. Laws regulating the quality of items, which were already in place during the time for items like flour.
10- Facilitating of pecuniary remittances from place to place. Again, this is a fuzzy area to me. It sounds like one and only one national currency, which didn't happen until the Civil War IIRC.
11- Facilitating of the transportation of commodities. Government help to transportation, like roads and canals. .
Please correct me if this list is wrong, and clear up any areas I don't understand.