Final answer:
Alexander Hamilton secured support for his debt plan through a strategic compromise with Virginians Jefferson and Madison to relocate the capital and by proposing a comprehensive financial system that would benefit the nation and win the loyalty of wealthy investors.
Step-by-step explanation:
Alexander Hamilton won support for his debt payment plan by presenting a proposal that aimed to stabilize the United States economy and build loyalty to the federal government. One of the key strategies to gain backing was the compromise with leading Virginians, Thomas Jefferson and James Madison, where Hamilton agreed to a more southern location for the nation's capital in return for their support of his financial system.
Hamilton's plan was to pay off the national debt at face value to signify that the government was creditworthy and to assume the debts of the states, which would reduce their need to levy taxes and thereby minimize domestic unrest. He proposed the issuance of new securities to refinance the debt, basing this approach on the successful British model. This could also provide the wealthy elite with capital to invest in the nation's development, thus incentivizing their support and laying the foundation for a strong federal government.
Concerns in Congress about the plan largely stemmed from the idea that it would disproportionately benefit speculators at the cost of war veterans. However, Hamilton's commitment to federal government obligation and the restoration of European confidence in the U.S. economy were decisive factors in winning the necessary support.