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What was the intent of the design of the National Credit Code?

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Final answer:

Alexander Hamilton's National Credit Code aimed to make the U.S. a financially reliable state by honoring all war debts and establishing a system to secure future investments. The National Bank Acts created a uniform currency and a national banking system, further increasing federal financial stability.

Step-by-step explanation:

The intent of the design of the National Credit Code, which Alexander Hamilton outlined in his "Report on Public Credit", was to establish the United States as a financially reliable and stable nation. The plan aimed to satisfy creditors and strengthen the country's economic foundations by honoring all federal and state debts incurred during the war, fostering loyalty to the national government, and building a basis for future industrial and commercial growth. By proposing that the federal government assume state debts and refurbish these through the issuance of new securities, Hamilton's blueprint was meant to ensure full faith and credit in the U.S. government, thereby attracting more investments and promoting national development.

To further create a financially secure system, the National Bank Acts of 1863 and 1864 were introduced to form a national banking system and establish a uniform national currency. These acts required federally-chartered banks to purchase U.S. government bonds, which then allowed these banks to issue national bank notes. This initiative also provided capital to the Union during the Civil War through bond purchases by banks.

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