In 1790, the United States was heavily in debt from

History

2 answers:

kondaur [170]3 years ago

5 0

Answer:

The American war of Independence was the cause of US national debt, is the right answer.

Explanation:

The amount of money which US government has borrowed from different sources is known as National debt. Other nations, private investors and federal agencies are the source of borrowing for the government. The US started to be in debt even before it was a nation because the colonial leaders had borrowed money from France and the Netherlands the fight against Great Britain. In eighteenth century the continental congress could not tax the citizens as it didn't had the power to do so. In 1790 the US government had at least 75 million of debt, due to growing US economy the debt lowered by 1812. When Andrew Jackson became the president the debt was 58 million, and he had to sell all the federally owned land in west to pay all the national debt.

Maslowich3 years ago

4 0

Hello there.

In 1790, the United States was heavily in debt from

paying for the American Revolution.

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