Jefferson and Hamilton had different views on what would be best for the new country. They both had completely opposite views on how the government would be run but Hamilton's plan would benefit the country better. Hamilton's idea was for a strong central government. Hamilton's believe for commerce and industry were the keys to a nation economy wealth. His plan was what the country needed. Political divisions in the new nation were great.
Hamilton believed in a strong central government led prosperous, educated elite of upper-class citizens. This would work the best because at the moment the country would have fallen under Jefferson's plan. Jefferson distrusted a strong central government. He favored strong state and local governments rooted in popular participation.
Hamilton's vision of America was to be much like Great Britain, with a strong central government. Jefferson wanted the complete opposite. The public debt of the United States in 1790 was millions of dollars. The national government was responsible for about 2/3 of this debt, and individual states were responsible for the rest. The nation also owed some money to foreign governments and some to private citizens, including soldiers who had received bonds for their service during the war. Both Jefferson and Hamilton had plans on an economic plan to resolve this problem, but the planed would work best was Hamilton's plan.
Hamilton's economic plan was to pay off the debt and to issue new bonds to cover old ones. He also proposed that the government assume the debts of the states. According to Jefferson's plan, the government would only pay off national debt. Jefferson's plan would not be good enough to solve the nation's problem. Hamilton's idea for a national bank was an idea that was needed badly at the time. He wanted a bank that was funded by both the federal and wealthy private investors.
This would issue paper money and handle tax receipts and other government funds. By drawing wealthy investors into the venture, Hamilton hoped to tie them to the country's welfare. This idea was good but was not left without a storm of controversy. Opponents of the national bank like Jefferson thought it was unconstitutional and was not necessary. Both Jefferson and Hamilton had good ideas on how to run the government, but Hamilton's plan was better for the new nation. Hamilton's plan for a strong government was one of the ideas that would help the country; Hamilton's economic plan was also better then Jefferson's because the nation was in great debt and needed to cover it up..