Alexander Hamilton 's Purpose Of Establishing Credit For The Country
In the aftermath of what had occurred in the Revolutionary war, the United States had faced a war debt during the battles. The debt percentage at that point had gradually increased to a point of concern and was seen as a mandatory issue to look in. By doing so, President George Washington chooses his secretary of the treasury, Alexander Hamilton to he him in decreasing the debt percentage. Hamilton would convey many proposals in the hope of the congress would agree and set forth the idea. However, Congress under the Confederation had not assumed responsibility for the Revolutionary War debt, the nation 's credit was weakened abroad and at home (Boyer, 203). After carefully applying policies that would help to benefit congress and passing the aid to help national debt decrease. Hamilton issued two reports on the public credit. He recommended first that the federal government "fund" the $54 million national debt by selling an equal sum in new government bonds. In his Second Report on the Public Credit, submitted to Congress in he argued that the Treasury could accumulate the interest owed on the remaining $42 million by collecting customs duties on imports and an excise tax.(Boyer,203)
2. Discuss the main contributing factors that lead up to the Missouri compromise? What did the Missouri compromise entail? Was it solved, why or why not?
During the Era of Good Feelings, there was, in the…