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Thomas Jefferson and James Madison opposed Alexander Hamilton's financial plan, primarily because they believed it favored wealthy elites and undermined states' rights. They argued that the federal government should not assume state debts and that a national bank was unconstitutional. The conflict was resolved through a compromise in 1790, where Jefferson and Madison agreed to support Hamilton's plan in exchange for the nation's capital being moved to a location along the Potomac River, which would benefit the South.

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1mo ago

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