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What compromise did Hamilton and Southern leaders reach over his plan to pay off state debts?
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What did the South receive in the compromise over the war debts between Hamilton and Jefferson?
The capital was moved to the South
What compromise did Alexander Hamilton Thomas Jefferson and James Madison reach regarding replayment of state debts?
In return for support of Hamilton's Assumption plan the new US capital would be on the Potomac River.
What did hamilton promise southern leaders in orders to gain the support for his plan to pay off state debts?
The new government should pay off the millions of dollars in depts owed by the confederation government to other countries and to individual American Citizens.
How did thomas view of the national debt differ from that of Alexander hamilton?
Jefferson wanted to pay off debts; Hamilton did not.
Who was the leader of the opposition to Hamilton's plan to pay off the debts of the new nation?
James Madison!
Why did southern states vote for Hamilton's plan to assume state debts?
most had huge debts they could never pay.
Why was Washington choosen?
Most northern states had large debts due to their heavy expenses from the Revolutionary War. Most southern states had little or no debts. Treasury Secretary Alexander Hamilton wanted the federal government to assume these debts; in doing so he hoped he would improve the nation's reputation with creditors and amass power in the hands of the federal government. The southern states balked at the idea, so Hamilton reached a compromise with them: if they agreed to his debt assumption plan, he would approve of a southern location for the nation's capital. And so it was - Washington was built between the southern, slaveholding states of Maryland and Virginia.
What did the South receive in the compromise over the war debts between Hamilton and Jefferson?
The capital was moved to the South
What compromise led the South's agreement to accept Hamilton's plan?
The Compromise of 1790, brokered by James Madison, led to the South's agreement to accept Alexander Hamilton's financial plan. As part of the compromise, the capital was moved to Washington D.C., and in return, Hamilton's plan for assumption of state debts was approved. This helped to establish financial stability and unity within the new nation.
What was Hamilton's plan for paying debts?
what was Hamilton's plan for paying state debts
Another problem with Hamilton's plan is southern states complained...?
About having to help pay other states debts.
What compromise did Alexander Hamilton Thomas Jefferson and James Madison reach regarding replayment of state debts?
In return for support of Hamilton's Assumption plan the new US capital would be on the Potomac River.
Why did the southern states vote for Hamilton's plan to assume state debts?
Hamilton's plan called for lots of federal government to be enacted. This would weeken their trading profits with Britain. Also, Hamilton called for tariffs on imports to protect the 'infant' factories in the north which brought in money for the Government but deeply hurt the southern states because they had to pay a much higher price for machinery.
If _______ states voted for ________ plan to pay off the ______ debts, Washington would support locating the _________ _______ in the ______?
Southern, Hamilton's, state, national capital, south.
What convinced the southerners to agree to help pay the national debt in the late 1790s?
The action that led the Southerners to compromise on the national debt was that they had to pay a lot of money to the northern states to make a deal they wanted to move the capital to the southern part of the United States which is now WashingtonD.C.(The 1st president George Washington's capitol was in New York instead of D.C.)
What compromise was reached concerning assumption of state debts and the site of the nations's capital?
Assumption Compromise
What was Hamilton's plan for paying state debt?
what was Hamilton's plan for paying state debts
