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3 years ago

2. What actions did Thomas Jefferson take to lower the national debt?

History

1 answer:

Vikki [24]3 years ago

3 0

Answer:

Read Below

Explanation:

Upon his election as the President of the United States of America in 1800, Thomas Jefferson selected Albert Gallatin as the Secretary of the Treasury.

he Jefferson administration had two main objectives in 1801:

1) Reduce the national debt

2) Reduce direct taxes

In 1801, the United States was more than $80 million in national debt.

The Jefferson administration took advantage of two sources to reduce national debt: capital gained through the sale of public land, and revenue brought in through custom duties (import taxes).

Furthermore, Jefferson lowered military spending, and reduced the US Army and Navy. He got rid of domestic taxes, and maintained the bank!

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