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Alecsey [184]
3 years ago
9

What was Hamilton’s plan to pay off the national debt

History
2 answers:
ANEK [815]3 years ago
7 0

Answer:

  • The government assume the entire debt of the federal government and the states.
  • Retire the old depreciated obligations by borrowing new money at a lower interest rate.
  • Congress had the power to create a bank because the Constitution granted the federal government authority to do anything "necessary and proper" to carry out its constitutional functions (in this case its fiscal duties)
  • Aid the nation's infant industries

Reference: Digital History (2019). Alexander Hamilton's Financial Program. [online] Digital History.

Korolek [52]3 years ago
4 0
When the paramount problem facing Hamilton<span> was a huge </span>national debt<span>. He proposed that the </span>government<span> assume the entire </span>debt<span> of the </span>federal government<span> and the states. His </span>plan<span> was to retire the old depreciated obligations by borrowing new money at a lower interest rate. </span>
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