AH1Background+Information-

From the Revolutionary War, the United States of America had some financial issues to deal with. The country was fifty million dollars in debt at this time, and still did not have a Bill of Rights. Many political masterminds were debating about how the debt should be accounted for. How should it be payed off? Just like the arguments during the making of the Constitution, there is two sides to this topic. The federalists and anti-federalists were trying to settle a compromise about how the debts should be funded for. The main federalist was Alexander Hamilton, the Secretary of Treasury; his point of view was to make the debt a national debt, not a state debt. He wanted to make the federal government pay for the debt. He believed that if the government was to make a brand new currency, then why would it not be able to be responsible for the country's debt.