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The U.S. Capital was in New York City in 1789-90. Alexander Hamilton had an extensive financial system that he needed Congress to pass. One element that faced resistance was the assumption of state debt. The resolution worked out between Hamilton, Jefferson, and Madison was that State Debt Assumption would be allowed to pass and the national capital would head to Philadelphia for 10 years with the permanent site where it is today. New Yorkers were furious with Hamilton, but he felt it was the best for the nation and it proved to be so. As our credit record improved with Hamilton's economic system, New York City became a top financial capital of the world! D.C. was a priority for the Virginians and it ended up giving the capitol a place to grow and at least more centralized among the original set of states.

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