We should all participate in paying the debts we owe
Raised money with bonds
You have a $1,000 bond. If you save your bond, you will get $2,000.
James CampenotPeriod 1
I will sell my bond because it is not getting paid
Yay!!!!! My Bonds have been paid
The national debt was money the United States owed other countries to pay for the Revolutionary War.
Jefferson disagreed with Hamilton-bonds
The government sold bonds to people to raise money for the war debt. Bonds were a promise that the government would pay back more money to bondholders at a much later time.
States' debt- South didn't like national debt
This is not fair!!! This is not fair!!!...
I will sell my bond
Americans that needed money were selling their bonds to speculators because their bonds were not getting paid. Speculators are investors who buy items at low prices in hope that their values will rise.
Let's go here, we are speculators and we can make money off of these bonds
The bonds weren't getting paid from the government, so bondholders were selling their bonds to speculators. Hamilton's decision was to pay the bonds gradually, but Jefferson thought we should not pay the bonds because the speculators had the bonds.
I think we should pay the bonds gradually
No! Don't pay the bonds, the speculators will get the money
Yay, more bonds, more money
Hamilton thought the federal government should pay states' debt. The South didn't like Hamilton's plans for the national debt. States like VA and NC didn't have a lot of war debt, so they thought his idea was unfair.