Answer :
Secretary of the Treasury Alexander Hamilton wanted the government to take over the war debts of the states, and pay for this debt by taking responsibility for paying all of them off.
Why did Hamilton as Treasury secretary want the federal government to take over the state's debts?
In other phrases, nation IOUs — the money borrowed to finance the Revolution — have been considered almost nugatory. Hamilton issued an ambitious notion. The federal authorities have to pay off all Confederation (nation) money owed at complete price. Such a movement could dramatically enhance the legitimacy of the new imperative authorities.
Hamilton's plan was known for the authorities to pay off both federal and national debts. He wanted the government to shop for up all of the bonds issued by means of both the countrywide and country government before 1789. He then deliberates to issue new bonds to pay off the vintage debts.
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