he made a national bank
Thomas Jefferson didn't approve of it because of strict interpretation-if it's not in the constitution, then you can't do it
Alexander Hamilton got it approve because of loose interpretation- finding loopholes to get things done--he used the part that said that if it is necessary, then it is fine (in the constitution)
he supported this idea of funding debts to be paid by the nation but to do so taxes would have to be raised but since government back then was so weak it had to strengthen its government to be able to grow stronger and more united and in the future being able to borrow money easier
To establish a very strong and firm economical system, in which it would provide the necessary funds to pay the national debt.
the southerners, they thought it was unfair, because they had very little war debts and didnt want to help pay for other states war debts.
Jefferson wanted to pay off debts; Hamilton did not.
James Madison!
The reason that some people did not like Alexander Hamilton's idea in 1790 is because they were opposed of Hamilton's plan to pay off debts. Many war debts were already fulfilled in the South. The North was still obligated to pay their debt and Hamilton felt aiding in paying off this debt would be beneficial for the economy. The South however was opposed due to the fact they already contributed into paying off their debt.
Alexander Hamilton
Build a financial plan for the new Country as it faced the debt from the Revolutionary War. Alexander Hamilton faced a great challenge and solved it off with perfection, creating a plan that put our Country's money in great hands.
To pay off all war debts
He was most noted for devising a plan to pay off the nation's debts.
Created a national bank. Came up with a financial plan to pay off war debts from the Revolutionary War.
Jefferson wanted to pay off debts; Hamilton did not.
Jefferson wanted to pay off debts; Hamilton did not.
One part of Alexander Hamilton's plan was to borrow new money at a lower interest rate. An example of the opposition he faced with his financial plan was with states claiming they should not be taxed since they had already paid off their debts.
Jefferson wanted to pay off debts; Hamilton did not.
Jefferson wanted to pay off debts; Hamilton did not.
Jefferson wanted to pay off debts; Hamilton did not.
Jefferson wanted to pay off debts; Hamilton did not.
Jefferson wanted to pay off debts; Hamilton did not.
Jefferson wanted to pay off debts; Hamilton did not.