Which position in the first United States cabinet was established to deal with financial matters?

Study for the CLEP US History 1 Test. Immerse in flashcards and multiple choice questions, each complete with hints and explanations. Get ready for your exam!

The Secretary of Treasury was specifically established to handle the nation's financial matters, which included overseeing the collection of taxes, managing government expenditures, and formulating economic policy. This position was created under the George Washington administration in 1789, and Alexander Hamilton was the first person to hold this office.

Hamilton's role was crucial because the early United States faced significant financial challenges, including war debts and a lack of a stable currency. By establishing a department dedicated to financial affairs, the government aimed to create a strong economic foundation for the fledgling nation, which would help stabilize it and encourage economic growth. This move laid the groundwork for modern financial systems and institutions in the United States.

Positions like Secretary of State, Secretary of Defense, and Attorney General, while also important, are focused on different aspects of governance: foreign relations, military matters, and legal affairs, respectively. Each role plays a vital part in the federal government, but the Secretary of Treasury is uniquely tasked with the management and growth of the nation's finances.

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