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The key provision in Hamilton's fiscal reform was termed "assumption" and called for the 13 states to consolidate their outstanding debt of $25 million [68] and to transfer it to the federal government for servicing under a general funding plan. [69] Hamilton's chief objectives were both economic and political.
Debt Assumption, or simply assumption, was a US financial policy executed under the Funding Act of 1790. The Washington administration pursued the policy, under Secretary of the Treasury Alexander Hamilton 's leadership, to assume the outstanding debt of states that had not yet repaid their American Revolutionary War bonds and a scrip.
The Funding Act of 1790, the full title of which is An Act making provision for the [payment of the] Debt of the United States, was passed on August 4, 1790, by the United States Congress as part of the Compromise of 1790, to address the issue of funding (debt service, repayment, and retirement) of the domestic debt incurred by the state governments, first as Thirteen Colonies, then as states ...
Alexander Hamilton, a portrait by William J. Weaver now housed in the U.S. Department of State. In United States history, the Hamiltonian economic program was the set of measures that were proposed by American Founding Father and first Secretary of the Treasury Alexander Hamilton in four notable reports and implemented by Congress during George Washington's first term.
The Compromise of 1790 was a compromise among Alexander Hamilton, Thomas Jefferson, and James Madison, where Hamilton won the decision for the national government to take over and pay the state debts, and Jefferson and Madison obtained the national capital, called the District of Columbia, for the South.
1825 January 20 Treaty of Washington City: Convention with the Choctaw 7 Stat. 234: 122 Choctaw: 1825 February 12 Treaty of Indian Springs: Convention with the Creeks 7 Stat. 237: Creek: 1825 June 2 Treaty of St. Louis: Treaty with the Osage 7 Stat. 240: 123 Great and Little Osage: 1825 June 3 Treaty of St. Louis: Treaty with the Kansa 7 Stat ...
Charles Carroll Jr. (1775–1825) (sometimes known as Charles Carroll of Homewood because he oversaw its design and construction), married Harriet Chew (1775–1861) from Philadelphia. Harriet was the daughter of Benjamin Chew , the chief justice of Pennsylvania , and her sister married John Eager Howard , who had served in the Senate with ...
James Wilkinson (March 24, 1757 – December 28, 1825) was an American soldier / officer, politician, and later discovered years to be Royal Spanish secret agent #13, who was associated with multiple scandals and controversies, including the Burr conspiracy.