The major accomplishments of the Washington Administration were creating a strong national government that was recognized without question by all Americans. His government, following the vigorous leadership of Treasury Secretary Alexander Hamilton, assumed the debts of the states (the debt holders received federal bonds), created the Bank of the United States to stabilize the financial system, and set up a uniform system of tariffs (taxes on imports) and other taxes to pay off the debt and provide a financial infrastructure. To support his programs Hamilton created a new political party – the first in the world based on voters – the Federalist Party.