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When people refer to Hamilton's plan, they are usually referring to his financial plan. First he needed to help the country establish credit in order to start growing the economy. To do that, he had to do something about the $77 million debt accumulated from the Revolutionary War. Hamilton's "Assumption Plan" included the national government taking on all the debt owed to the states, other nations, and the state debts to lenders. This last part lost the support of many Virginians including James Madison and Thomas Jefferson. Through a negotiated deal, Hamilton succeed with his plan.
Next, Hamilton proposed a national bank. Madison and Jefferson were vehemently against this action and tried to dissuade President Washington from signing the bill. Hamilton's arguments were more convincing to Washington than Madison or Jefferson. The bill was signed into law.
In 1789, the U.S. was absolutely broke. After 3 to 4 years of Hamilton's financial and economic plans, the United States had the debt burden pulled off the backs of the Nation and States and led to a high credit standing with other nations and the economy was in high form and the States were able to rebuild after the war.
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What compromise led to acceptance of Hamiltons plan for reducing the national debt?
The Compromise of 1790 led to the acceptance of Alexander Hamilton's plan for reducing the national debt. This compromise was the first big compromise reached by the new government in America.
Which framer presented the plan for a body of presidential electors?
Alexander Hamilton
Why did southerners finally agree to Hamilton's plan?
Alexander Hamilton has to make a deal with southern leaders to get support for his plan to pay back the national debt. In exchange for their support he promised them that he would locate the nation's capital along the Potomac River so that it would border between the north and south, and not directly in the northern states as it would have been in Philadelphia.
What was Hamiltons plan for reducing the national debt?
By using national banks. There for when people went to the bank they had owned money. That had made America increase there debt.
Did John Rutledge support the New Jersey Plan?
no he did not he supported the Virginia plan
What was Alexander hamiltons's plan for the adequate support of public credit?
everybody hates mervine
Why did antifederalists oppose Alexander hamiltons's plan?
Why did Antifederalists oppose Alexander Hamilton's plan
What was Alexander hamiltons plan for the adequate support of public credit?
everybody hates mervine
Why did antifederalists oppose Alexander Hamiltons plan?
Why did Antifederalists oppose Alexander Hamilton's plan
What was Alexander hamiltons plan to speed up industrialization in the United states?
increase the population
Why were Alexander hamiltons plan to tax the people opposed by many southerns?
They did not want to bail the northerners out.
What was Alexander Hamiltons assumption plan?
Hamiltons case for assumption was to convince Congress that the state debts should be regarded as an obligation, for their support in the war for independance. Hamiltons hopes were that assumption would chain the states tightly to their "federal chariot."
What was a part of Alexander hamiltons plan for restructuring the nations debt?
developing a strong commercial and industrial economy
Who argued strongly against Alexander hamiltons plan to pay off war bonds?
Thomas Jefferson
What deal helped win support from the southern states in hamiltons debt plan?
He promised to locate the capitol in the south.
What color are Alexander Hamiltons eyes?
brown
What did Alexander hamiltons parents do for a living?
No they were poor
