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Hamilton wanted the federal government to take over in full the old Revolutionary War debt of the Continental Congress and the states because he believed that?
Hamilton believed that if the federal government took over the debt, it would inspire favor toward the government from well-to-do creditors. Alexander Hamilton served as the 1st United States Secretary of the Treasury.
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Hamilton wanted the Federal government to assume the war debts of the Second Continental Congress and also of the thirteen states?
Yes, Hamilton wanted the federal government to take on the war debt. He proposed a National Bank, which was met with opposition from many. Hamilton prevailed, and the First Bank of the United States was chartered in 1791.
Did Hamilton believe in regards to the debt the states accumulated from fighting the Revolutionary War?
Since the states were fighting to obtain the independence of a new nation, Hamilton believed it should be the federal government's obligation to assume and pay off all the debts, at face value, the states obtained as a result of the Revolutionary War. Many Southern states had already paid their debts and some of the bonds issued by the Continental Congress and states were considered worthless to many that had lent the Congress and states money. Speculators had been buying up the bonds for pennies on the dollar in the hope that the government would redeem them at face value. Hamilton argued that even if such speculators made money, the fact that the government paid off the debts would impress European nations and convince them we would be an economically stable nation and would honor our commercial agreements.
Hamilton wanted the Federal government to assume and pay the war debts owed by both the?
Congress and the thirteen states.[: Audralynne :]
What bold plan did Hamilton create in an effort to address the Revolutionary War debt?
Alexander Hamilton tried to get Congress to approve an inland duty tax on whiskey to create revenue for paying the was debt. This led to the Whiskey Rebellion in 1794.
What type of government did Hamilton believe in?
Hamilton was a Federalist who believed in a country with a strong federal government. For example, he wrote the Public Report on a National Bank, in which he suggested that the national government should create a bank to help get rid of Revolutionary War debt, even though some argued that it was a breach of the Constitution.
Hamilton wanted the Federal government to assume the war debts of the Second Continental Congress and also of the thirteen states?
Yes, Hamilton wanted the federal government to take on the war debt. He proposed a National Bank, which was met with opposition from many. Hamilton prevailed, and the First Bank of the United States was chartered in 1791.
Who was the cabinet member that convinced congress to pay revolutionary war debts in full?
Alexander Hamilton was the cabinet member who convinced congress to pay revolutionary war debts in full.
What did Treasury Alexander Hamilton proposed that the federal government do after the Revolutionary war?
create a national bank
Did Hamilton believe in regards to the debt the states accumulated from fighting the Revolutionary War?
Since the states were fighting to obtain the independence of a new nation, Hamilton believed it should be the federal government's obligation to assume and pay off all the debts, at face value, the states obtained as a result of the Revolutionary War. Many Southern states had already paid their debts and some of the bonds issued by the Continental Congress and states were considered worthless to many that had lent the Congress and states money. Speculators had been buying up the bonds for pennies on the dollar in the hope that the government would redeem them at face value. Hamilton argued that even if such speculators made money, the fact that the government paid off the debts would impress European nations and convince them we would be an economically stable nation and would honor our commercial agreements.
What was one reason that Alexander Hamilton asked Congress to charter of national bank?
Alexander Hamilton wanted to save the young United States from the post-Revolutionary war depression it sank into. In addition to his controversial fiscal program, the bank would help accomplish this feat. The bank would serve as a depository for government funds.
Hamilton's economic policy encouraged what?
Alexander Hamilton thought that the new federal government should accept the debts of the Confederation Congress at their full value. :)
What did Hamilton believe in regards to the debt the states accumulated from fighting in the revolutionary war?
The national government had the obligation to pay the debt.
What did Hamilton believe in regards to the debt the states accumulated from fighting the Revolutionary War?
The national government had the obligation to pay the debt.
What did Hamilton believe in regards to the debt the states accumulated from fighting revolutionary war?
The national government had the obligation to pay the debt.
Was Alexander Hamilton part of the Continental Congress?
Yes. Alexander Hamilton was a delegate from New York, and the only New Yorker to sign the Constitution. The other two, John Lansing, Jr., and Robert Yates, walked out of the Convention before it ended because they opposed substituting a new Constitution for the Articles of Confederation.
Was Alexander hamilton economic plans for the new government was founded on the idea that congress must pay off the war debt true or false?
Alexander Hamilton's economic plans for the new government was founded on the idea that congress must pay off the war debt is a true statement. Hamilton was the 1st United States Secretary of the Treasury.
Hamilton wanted the Federal government to assume and pay the war debts owed by both the?
Congress and the thirteen states.[: Audralynne :]
