Hamilton and the National Debt

Hamilton and the National Debt

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  • Woof!
  • I!
  • We need to fix the debt pooch. Oh I know! We can pass a tariff on imports! 
  • This plan will only reward speculators. 
  • We need to buy up all the bonds. We can pass tariffs and issue new bonds to help pay off old debts.
  • If we do not repay our debts, we risk losing future investors.
  • Here's an idea. If you agree with my plan, I will help your goal of moving the capital into the south.
  • Fine. I'll agree to that.
  • Also, the Southern states have repaid their debts. Northern states should do the same.
  • July 1790. Congress votes on repaying debts and moving the capital to the South.
  • The new capital would not be built in a state, but it would be on land given up by two southern states, Maryland and Virginia. Congress called this area District of Columbia.
  • All in favor say I!
  • George Washington showed his abilities as a military leader and he dispatched the militia to Pennsylvania. When the rebels heard of this, they fled back to their farms and homes.
  • The tariffs sparked a rebellion. The taxes on liquor were too much for smaller farms and local distilleries. Thousands marched in protest. They sang songs, marched, and even tarred and feathered tax collectors.
  • The Whiskey Rebellion tested the will of the new government. Washington's quick response proved to Americans that their new government would act firmly in times of crisis. The President also showed those who disagreed with the government that violence would not be tolerated.
  • We must execute the leaders of the rebellion.
  • No. The government has shown it's strength, now it is time to show our mercy.
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