Exit Ticket: The National Debt.
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How Hamilton Stabilized the U.S. Economy
Alexander Hamilton who was the Secretary of Treasury, he had proposed to put in place bonds as well as tariffs on imports to reduce and eliminate the Nation's debt. Hamilton wanted the government to repay federal debts and state debts. He proposed that the government would buy bonds for old debts and bonds issued by the state and federal government. While money coming from the tariffs would increase, the government could utilize that money to pay off new bonds. Many people had backed the plan, however some people were against it.
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