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The Confederacy was unable to pay back debts owed to the Union as indemnity, because when the Southern states succeeded to form the Confederacy they formed their own currency, rather than use the national currency. After the Civil War ended their Confederate Currency was completely useless, valueless, and not accepted by the Union, and they had no real money to pay back their owed debts.
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What was one problem faced by mine workers during the great depression?
they couldnt pay off their company debts
Who is responsible to pay back all U.S depts?
The debts of the US Federal government is responsible for paying all of its debts. This can be done by raising taxes, passing tariff acts and reducing government spending to not allow the debt to enlarge.
How did Alexander Hamilton want the government to take over war debts of the states and pay for this debt?
taxing goods bought from foreign nations.
Why did Alexander Hamilton support raising tariffs?
He favored tariffs because he wanted to place them on items & such to pay off all the debts.
If You owe money to someone in bankruptcy - will you have to pay it if you can't afford it?
You have to pay your debts...the other persons bankruptcy isn't really relevant...YOU HAVE TO PAY PEOPLE YOUR DEBTS...FIND A WAY TO DO SO. You can't afford other things....your debts you MUST afford.
Who is responsible to pay back debts?
The government is responsible to pay all back debts.
What was one problem faced by mine workers during the great depression?
they couldnt pay off their company debts
Who is responsible to pay back all debts?
The government is responsible to pay all back debts.
Who did Hamiltion wanted the federal government to assume and pay the debts of the?
He wanted the federal government to assume and pay all state debts.
The federal government was unable to pay its Revolutionary War debts because it could not?
The federal government was unable to pay its Revolutionary War debts because it did not have the power to levy taxes. The war was fought from 1775 to 1783.
What was the federalist view on the assumption of state debts?
The view was that the Federal Government should pay off the states' war debts.
The government of the confederation could not pay its debts because it lacked the power to what the states or American citizens?
pay it
What is a taxation?
When the government takes money from your income to pay debts and construction: taxes.
Where does modern currency get its value?
from the government who says it is legal tender to pay debts
How does government get the money it needs?
Loans. They then collect taxes to pay back their debts.
What is the number one reason why consumers default on their debts?
They do not have the money to pay back their debts!They do not have the money to pay back their debts!They do not have the money to pay back their debts!They do not have the money to pay back their debts!
Where can one get debt advice from the government?
StepChange Debt offers free government advice for people who need help with their debts. They can help you look over your finances, show you how to pay off your debt quickly and advise you on which debts to pay off first, if you can only afford to pay a few at a time.
