Hamilton vs. Jefferson Part1

Hamilton vs. Jefferson Part1

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  • Hamilton's Biggest Problem-National Debt
  • I wish I had money
  • Raised Money with Bonds
  • BOND
  • Speculators
  • BOND
  • I'm a speculator!
  • Alexander Hamilton's biggest challenge was that we owed $11.7 million to foreign countries and $40.4 million to US citizens.
  • Jefferson Disagreed with Hamilton-Bonds-Part 1
  • Let's pay back foreign debt IMMEDIATELY!
  • Bonds are certificates of debt that carry a promise to buy back the bonds at a higher price. We needed bonds because there were people who would buy them. The bonds gave us money for the war debts.
  • Jefferson Disagreed with Hamilton-Bonds-Part 2
  • No that will cheat the bond holders!
  • They sold these bonds to speculators who are people who buy items at low prices hoping their values will rise.
  • States' Debts-Part 1
  • We don't like these war expenses!
  • Hamilton wanted to pay back foreign debt immediately, this would allow speculators to make a profit.
  • Jefferson disagreed and thought that it cheated bondholders who had sold their bonds at lower prices.
  • The people in the south didn't like that they would have to pay $25 million for Revolutionary War expenses. Alexander Hamilton wanted the government to pay for some of it.
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