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It was paid off ahead of schedule in 1795.
This was a hard one to track down. I finally found an article in TheNew York Times of March 21, 1921, that quotes Secretary of State Thomas Pickering, who served from 1795 to 1800, as writing:
[I]n the year 1795, the whole of our debt to France was discharged, by anticipating the payment of eleven million and a half of livres, no part of which would have become due until the 2d of September, 1796, and then only one million and a half; the residue at subsequent periods; the last not until the year 1802.In 1921 while negotiations were underway about World War I debts, a French journalist claimed the United States had never paid off this debt. The New York Times article was in response to his claim.
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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.
Why did congress lack the money it needed to pay off the government's war debt?
Congress lacked the money it needed to pay off the government's war debt because of an unbalanced budget. Congress can continue to pay for or extend a war without actually having the money to directly fund it.
What was America's total debt after the revolutionary War?
36 million
How did Robert Morris propose to pay off the national debt left over from fighting the Revolutionary War?
He proposed 5% sales tax on imported goods.
Why were colonial boycotts effective before the Revolutionary War?
cause it pissed the british off that they werent getting their moneyWell, they didn't want to pay the British during the Revolutionary War because it be a waste. They used it for themselves and British didn't gain any money so they were in great debt, and they eventually lost like a slow debt.
Is the US still in debt to countries that helped fight the revolutionary war?
Partly. We all still have to pay off of what we got and pay taxes normally and some of it still goes toward the revolutionary was
When did the US Government first tax liquors?
Just after the Revolutionary War to pay the War Debt.
How did Robter Morris propose to pay off the national debt left over from fighting the Revolutionary War?
10 pecent inflation tax
How did Robert Morris proposed to pay off the national debt left over from fighting the Revolutionary War?
5 percent national income tax
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.
Why was the whiskey tax supported by the federalists?
he viewed the tax on whiskey as a source of revenue.
Why was the French and Indian War a reason for taxation?
to pay off the war debt
Did Russia pay off their World War 2 debt to the USA?
No the US forgave them the debt.
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.
Why were taxes so high after the civil war?
The government had to pay off the War Debt.
