DEBT DEBATE AND NATIONAL BANK, Pay the debt, State debt, economy, Power…
DEBT DEBATE AND
Paying the debt owed by US in the revolutionary war
11.7 million to foreign countries
40.4 milloin to US citizens
Pay the foreign debt immediately and gradually repay the total value of all bonds
Reason: the speculator paid what the bond was worth and took the risks. It's fair
State debt: paying the states' debts would help the national economy in northern
Manufacturing, business and industrialization.
strong federal government.
They shouldn't give much power to individuals.
the federal government can take reasonable
actions that the Constitution does not specifically forbid.
Disagree to pay the debt. Paying full value would allow speculators to make a profit
Reason: the idea cheated bondholders who had sold their bonds at low prices
State debt: The South didn't have a lot of debt and they can't get money
Farmers. Depending on commerce is too risky
protect the power of states.
It is the people's right to rule the country
the federal government should do only what the Constitution specifically says it can do.
Pay the debt