It made a combined republic with forces assigned between the state governments and the national government. In any case it didn't tackle the issue of individual state obligation. In 1789, the U.S. Treasury Department was shaped, with Alexander Hamilton as the first Treasury Secretary. Hamilton persuaded Congress to expect all state obligation that stayed from the Revolution. That would require the new national government to run in the red, however Hamilton was not worried. As speculation streamed to the new U.S., capital would be made. In any case Hamilton favored a constrained, controllable obligation. It ought to “be remolded into such a shape as will bring the expenditure of the nation to a level with its income,” he argued in 1790. “Till this shall be accomplished, the finances of the United States will never wear proper countenance.” Hamilton was particularly stressed over the injuring threat of interest installments. “Arrears of interest, continually accruing, will be as continual a monument, either of inability or of ill faith and will not cease to have an evil influence on public credit.” Thomas Jefferson, at that point serving as Secretary of State, overwhelmingly restricted Hamilton's
It made a combined republic with forces assigned between the state governments and the national government. In any case it didn't tackle the issue of individual state obligation. In 1789, the U.S. Treasury Department was shaped, with Alexander Hamilton as the first Treasury Secretary. Hamilton persuaded Congress to expect all state obligation that stayed from the Revolution. That would require the new national government to run in the red, however Hamilton was not worried. As speculation streamed to the new U.S., capital would be made. In any case Hamilton favored a constrained, controllable obligation. It ought to “be remolded into such a shape as will bring the expenditure of the nation to a level with its income,” he argued in 1790. “Till this shall be accomplished, the finances of the United States will never wear proper countenance.” Hamilton was particularly stressed over the injuring threat of interest installments. “Arrears of interest, continually accruing, will be as continual a monument, either of inability or of ill faith and will not cease to have an evil influence on public credit.” Thomas Jefferson, at that point serving as Secretary of State, overwhelmingly restricted Hamilton's