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- Bill of Right adopted by Congress and then ratified by states in 1791 mexander Hamilton - Federalist \& first Secretary of the Treasury in Washington's Cabinet - Said war dept was a national responsibility to be paid by all states, since all benefited - Called for national assumption of states' debts - This also built a sense of American - Controversy: Most debt was held by - sharing it didn't seem fair to the illton and the Mational Bank

Ask by Ward Williams. in the United States
Feb 04,2025

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Alexander Hamilton, the first Secretary of the Treasury, supported the Bill of Rights in 1791. He believed the national debt was a shared responsibility and proposed the federal government take on state debts to promote national unity. This plan was controversial because some states had already paid off their debts and felt it was unfair to share the burden. Additionally, Hamilton advocated for a National Bank to strengthen the financial system, which faced opposition from those concerned about centralizing power.

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Did you know that the Bill of Rights was introduced to address the concerns of Anti-Federalists who feared that a strong central government would infringe upon individual liberties? This first ten amendments to the Constitution were crucial in securing support for ratification and were a monumental step toward ensuring personal freedoms such as speech, assembly, and religion! In the real world, the principles behind Hamilton's financial programs still resonate today. The idea of federal debt being a shared responsibility can be seen in modern discussions about national budgets and fiscal policy. For instance, the U.S. government regularly engages in debates about balancing state and federal responsibilities, much like Hamilton's vision of a united economic front. Isn’t it fascinating how history shapes our current financial discussions?

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