What were the arguments for and against Hamiltons funding plan?

Answer 1

Supporters of Hamilton's funding plan argued that it would establish the creditworthiness of the federal government, attract investment, and create a stable national currency. They believed that assuming state debts would unify the nation and strengthen federal authority. Conversely, opponents contended that it unfairly favored wealthy bondholders over ordinary citizens and states that had already paid off their debts. Critics also feared that the plan would increase federal power at the expense of states' rights.