Question

Many Americans opposed Alexander Hamilton's proposal to have the national government assume the debts owed by the states because:

a. most congressmen did not want speculators to gain profits from the scheme
b. the Republicans feared that the national government would get too bureaucratic
c. states that had already paid a large proportion of their debts would have to help pay the debts of other states
d. all of the above

Answer 1

Option C

Step-by-step explanation:

• The vital issue confronting Hamilton was a gigantic national obligation. He suggested that the administration expect the whole obligation of the government and the states.

• His arrangement was to resign the old deteriorated commitments by obtaining new cash at a lower loan interest rate.

• He considered the repay of the national debt important so the dealers who owed the securities would have a stake in the government's prosperity and enough trust in its monetary steadiness to advance cash later on.