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Storyboard Text

  • Biggest Challenge - National Debt
  • Yes...We'll..get working on that.
  • We demand we get our money back!
  • Give us our money!!
  • Raised Money With Bonds
  • These are bonds; certificates of debt                             
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  • Speculators
  • I would like to sell my bonds.
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  • America owned many war debts to several countries, and they were getting frustrated. America owed them around 25 million dollars.
  • Jefferson Disagrees With Hamilton
  • We need to pay foreign debts!
  • No! 
  • Bonds are certificates of debt. When you have a bond, you become a bondholder.
  • States' Debts - South Didn't Like
  • Congress doesn't have the power to pay state debts! The constitution never said so!
  • You can sell your bonds to speculators, who will resell your bonds in hope of a raise in the value.
  • Move Capital
  • I guess we could agree with that..
  • If I convince the north to move the capital, will you back up my debt plan and get supporters.
  • Jefferson and Hamilton had many arguments over finance, like you see here. They are arguing over the foreign debts, a massive problem in this time period
  • Patrick Henry believed that Congress didn't have the power to state debts, and that it never said they had the right in the Constitution.
  • This compromise resulted in Hamilton's debt plan going into action, and the capital moved to Philadelphia, Pennsylvania for the next decade. The current capital is Washington D.C.
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