Delice for He was inaugurated as the nation’s first president in New York on April 30, 1789. One of Washington’s best decisions as president was his selection of Alexander HAMILTON as his secretary of treasury. With the president’s support, Hamilton devised a plan for putting the United States on firm financial footing through the sound management of the nation’s debt. His Reports on Public Credit recommended the full funding of debts to foreign nations and to public creditors, and the establishment of a national bank. Their passage radically improved American credit, stimulated economic growth and tied wealthy Americans to the federal government, thereby better ensuring its stability and legitimacy. Politically, Washington mediated a series of conflicts and crises, both domestic and foreign. On the diplomatic front,Washington’s administration managed threats from the British, French and Spanish, successfully kept the United States out of European wars, and restored and improved Anglo-American trade with the Jay Treaty of 1794. Delice 2016.