Alexandra Hamilton was the secretary of the treasury. Hamilton wanted to build a strong economy. He faced many major problems, how ever among the most pressing was the large government debt.

During the revolution both the national government and the indicial states needed money to pay solders and buy supplies. They borrowed money from foreign countries and ordinary citizens. The bond is a certificate that promises to repay the money loans plus interest on a certain date.

In 1789, most southern states had paid off their debts from the revolution. Hamilton insisted that all these debts be repaid. Hamilton developed a plan to repay both the national and state debts. He planned to sell new bonds to pay off old debts. Many people including bankers and in visitors. Many welcomed his plan and others attacked it.

The Delegates Began

Alexander Hamilton of New York. During the Revolution, Hamilton had...