what compromise did Alexander Hamilton, Thomas Jefferson, and James Madison reach regarding repayment of states debts

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what compromise did Alexander Hamilton, Thomas Jefferson, and James Madison reach regarding repayment of states debts

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Ruhshonaid Ruhshonaid · Answer 1

It actually wasn't the repayment of state debts but the assumption of state debts. In 1790, Alexander Hamilton was the Secretary of the Treasury, Thomas Jefferson Secretary of State, and James Madison a Representative. Congress asked Hamilton for a plan to fix the economic system, and in the span of roughly 3 months Hamilton came out with the first Report on Public Credit, which advocated for the assumption of state debts. Hamilton argued that increasing the government's responsibility increases its authority. James Madison and Thomas Jefferson were horrified, and Madison set to work on not passing the bill, at least not the assumption

Destinyholley99id Destinyholley99id · Answer 2

Destinyholley99id Destinyholley99id

Answer: Hamilton promised to convince northern members of Congress to move the capital. Jefferson and Madison then agreed to gather support in the South for Hamilon's debt plan.

Explanation: Hope this helps :)

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