How was the national debt reduced by Jefferson and gallatin?

Answer 1

He streamlined the bureaucracy and increased the sales of federal land.

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Answer 2

President Jefferson inherited a national debt of $83 million, most of which had been contracted to fund the revolutionary war. In his first year, he had his treasury secretary, Albert Gallatin, set up a sinking fund to begin retiring the principal. Despite the unexpected expenditure of $15 million for the purchase of Louisiana, he and Gallatin reduced the principal by $37 million, leaving only $57 million when he left office. It was left to the next president, Andrew Jackson of Tennessee, to finish the work. Under his administration, the last outstanding bond was retired, and in 1835 the country stood un-encumbered of a single dollar of national debt! The country remained debt free for one more year (1836) but it would never again enjoy this desideratum.

Answer 3

Jefferson and Gallatin aimed to reduce the national debt that the Federalist had left. They scaled down the military expenses by cutting the army by one-third and reducing the navy from 25 to 7 ships. By slashing spending, Jefferson and Gallatin significantly lowered the national debt within a few years.

Answer 4

He streamlined the bureaucracy and increased the sales of federal land.

-Novanet