Report on the Subject of Manufactures — Alexander Hamilton
The Langenderfer Library: Classics in Tax, Economics, and AccountingShow Notes
How can a young nation build economic independence and national strength? In his landmark 1791 Report on the Subject of Manufactures, Treasury Secretary Alexander Hamilton argues that American prosperity requires more than agriculture alone: it also depends on manufacturing, diversified labor, technological improvement, capital formation, and a larger domestic market.
Hamilton examines objections to industrial policy and makes the case for deliberate public encouragement of manufactures through measures such as protective duties, bounties, and support for essential industries. Linking economic development to national security, productivity, immigration, and the coordination of agriculture and industry, the report became a foundational statement of American economic policy and remains central to debates over tariffs, industrial strategy, and the proper role of government in growth.
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