-
STATES’ DEBT
The states owed 25 million for the Revolutionary War expenses.
Hamilton wanted the federal gov’t to pay 21.5 million of this.
Debtor states would not have to pay as much back therefore it would stimulate the economy. The South did not agree! States such as Virginia and South Carolina did not have war debts and thought the idea to be unfair. -
Washington leads new nation
In 1789 George Washington became the first president of the United States.Congress and the president organized the executive and judicial branches of government. American had high expectations for their new nation. -
Americans expectations for the nation
Citizens wanted improved trade free from restrictions, a stable economy and protection. Almost 4 million American’s in 1790 Mostly farmers Craftspeople, merchants and laborers. -
HAMILTON AND NATIONAL FINANCE
Hamilton tackled the problem of settling national and state debt.
Thomas Jefferson opposed Hamilton’s views on government and the economy. Hamilton created a national bank to strengthen the U.S. Economy. -
Period: to
1789-1800 By:Seth McGaughey
