locate the nation's permanent capital on the Potomac River.
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The bank that Thomas Hamilton wanted to have created so that the federal government can deposit money raised from taxes.
Hamilton's financial plan consisted of three main parts: the establishment of a national bank, the federal assumption of state debts, and the implementation of a system of tariffs and excise taxes. The national bank aimed to stabilize the economy and provide a uniform currency. Assuming state debts was intended to unify the nation and strengthen the federal government’s financial standing. Tariffs and excise taxes were designed to generate revenue to pay off the national debt and fund government operations.
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not on your life!
funding and assumption
Assumption
Assumption .
the need to gain support of wealthy groups for the federal government
He belieced that he would gain the monetary and political support of the rich, for the federal government.
A bill passed in 1789 by the federal government. It made the Hamilton Design possible, by making each individual state debt, national debt
D. call for the construction of a new national capital on the banks of the Potomac River.
called for the construction of a new national capital on the banks of the Potomac River
Alexander Hamilton wanted Congress to pass three key bills: the establishment of a national bank, a federal excise tax on whiskey, and the assumption of state debts by the federal government. The national bank would stabilize the economy and provide a uniform currency, while the excise tax aimed to generate revenue. Assumption of state debts would help unify the states under a strong federal government and establish national credit. These measures were central to Hamilton's vision for a strong financial foundation for the United States.
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."
Assumption
Hamilton supported greater federal power. (study island)