The War Of The American Revolution Essay

1082 Words Aug 6th, 2016 5 Pages
On September 3, 1783 the American Revolution came to an end leaving America to be an independent nation. However, this war, as with any war was very expensive; America starting off with $43 million in debt ("TreasuryDirect KIDS - The History of U.S. Public Debt - The Beginning of U.S. Debt"). But, the debt doesn’t stop here, it continues to grow with the nation as the government provided more services for civilians. This debt caused a severe depression that spurred Shays’ Rebellion. When new farmers couldn’t afford to pay high taxes, local sheriffs seized farms and throw farmers in prison ("Shays ' Rebellion"). Massachusetts could have prevented this by passing pro-debtor laws, and printed more paper money for more forgiving debt, but they decided to be aggressive with tax collection instead. Causing farmers in Massachusetts to organize a resistance under Daniel Shays.
Though, things start to get better after the responsibility for this large sum of debt went to the first Secretary of the Treasury Alexander Hamilton. Hamilton was able to raise national income through increased taxation, along with renegotiate lower interest rates on loans ("U.S. Debt and Foreign Loans, 1775–1795"). In addition, President Andrew Jackson in 1835 cut national debt down to zero after it multiplied to $119.2 million from the War of 1812 ("History of Debt in the United States"). Jackson just happened to be in office when this happened because congress required debt reductions of at least $10…

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