If we assume the debts, the union gets new line of credit, a financial diuretic
Hamilton purposing taxes
You’re in worse shape than the national debt is in
Hamilton thought that buy getting a national bank it would strengthen the national government. Also he wants to use one form of paper moey instead of just coins.
South paid off debts
If New York’s in debt why should Virginia bear it? Uh, our debts are paid, I’m afraid
Hamilton knew that the country was in mayjor debt so part of creating the national bank was to relive the national debt. He also wanted to start imposing taxes like the Whiskey tax. (quote directed at Jefferson)
THAT'S MY ALCOHOL!!
Jefferson's arrgument was that some states in the south had already paid off their debts and he thought thta it was unfair for the government to tax them.
One thing that Hamilton wanted to tax was whiskey. Some of the farmers in the south would make whiskey because it was easier to transport than their grain. So a tax on it would be exteremly bad.
Imagine what gon' happen when you try to tax our whisky