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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.
Who favored the federal government to assume and pay for the war debts owed by the Congress and states?
Thomas Jefferson
Hamilton wanted the Federal government to assume and pay the war debts owed by both the?
Congress and the thirteen states.[: Audralynne :]
Why did many Southern states object to helping the country pay off its war debts?
they nedded to go to the bathroom
What region of the US did not want Hamilton to pay off the states debts?
The Southern states were opposed to Alexander Hamilton's plan to pay off state debts. They had already paid off a significant portion of their debts and felt that they would be unfairly burdened by the assumption of Northern states' debts. This disagreement contributed to tensions between the North and South, impacting early American political dynamics.
Why did southerners object to hamiltons plan to pay off Americas war debt?
The purpose of having the Government assume the debts of the States was to show the citizens and the world, that the US Government was going to be economically sound and because the states had fought for every state's independence from Britain, not just their individual state. Southern States opposed the plan because by the time of Washington's inauguration, the Southern States had already paid off their debts.
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 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."
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.
Another problem with Hamilton's plan is southern states complained...?
About having to help pay other states debts.
Who favored the federal government to assume and pay for the war debts owed by the Congress and states?
Thomas Jefferson
What was Spain's new nation's major financial problem?
The government's wealth was under a national debt. States with large debts payed off. However, the small states did not want the government to assume state debts.
Why did the southern states object to helping the country pay off its war debts?
they nedded to go to the bathroom
Hamilton wanted the Federal government to assume and pay the war debts owed by both the?
Congress and the thirteen states.[: Audralynne :]
Why did southerners oppose hamilton and plan to repay war debts?
Southerners opposed Alexander Hamilton's plan to assume state debts from the Revolutionary War because they had already paid off a significant portion of their debts and felt it was unfair for them to support the debts of northern states. Additionally, they feared that the plan would increase federal power at the expense of state sovereignty. The opposition was also tied to regional tensions, as many southern leaders were concerned about the growing influence of the northern states in the new federal government.
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.
Why did many Southern states object to helping the country pay off its war debts?
they nedded to go to the bathroom
