The Plan
Opposition to the plan
Compromise
Fight Over Bank
Taxes and Tariffs
100
What was the plan?
That government pay off all the debts to the nations and American citizens
100
What did Congress disagree to do?
They disagreed to pay off the American citizens
100
What did he name the new capital?
Washington D.C.
100
Until this time how many banks existed?
3
100
How did most Americans earn their money?
Farming
200
Who was the creator of this plan?
Alexander Hamilton
200
Who were some of the opposers?
Thomas Jefferson and James Madison
200
Who was the compromise for? The North or the South? Why?
The South because they had recieved a much less debt but they were going to have to pay much more and they said it was unfair.
200
By whom were all 3 established
The state government
200
What is a Tariff
A tax on imports
300
Why did the plan state that government pay off debts to American citizens?
Because they helped win the American Revolution
300
What did the government give American citizens during the American Revolution?
Bonds
300
From what 2 states did Hamilton agree the proposals from?
Virginia and Maryland
300
Who were the 2 main people that opposed the idea of the national Bank?
Thomas Jefferson and James Madison
300
About how much of the government's income did the taxes provide?
90%
400
When was this plan introduced?
1790
400
What were the people that risked money in order to make a larger profit?
Speculators
400
Where was this new capital located?
Along the Potomac River
400
Where were the previous banks located?
NYC, Philadelphia, and Boston
400
What did Hamilton's economic program give the nation?
Financial Powers and lots of funds
500
Why did he issue this plan?
Because Washington left him to deal with the financial problems
500
Why did the original bond owners lose money and the new bond owners profit?
Because the new bond owners were the speculators and they bought the bonds for a lower value than the bonds
500
Why did the Southerners agree to pay off the debts?
Because it was a great deal
500
To settle this problem what did George Washington do?
He told Hamilton and Jefferson to write their opinions about the idea and Washington finally signed the bill
500
What did Hamilton's proposals do negatively to the nation?
It split the Congress and the nation apart
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