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Compare And Contrast Jefferson And Hamilton's Economic Plan

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After the new Federal Constitution went into effect, those supporting it split between Thomas Jefferson and Alexander Hamilton. The ones who chose Hamilton, supported his economic plan. Hamilton’s plan for the nation included consolidating the state's’ debts under the federal government. He issued a report in which he proposed that the Federal government assume and fund all of the debts. He would then pay it by issuing new bonds at an interest rate of 4% payable over 20 years. A lot of nation’s investors found this alluring. It would also tie them to the new national government, since they would want that them to survive so they could get paid on their investment. Jefferson and Madison opposed Hamilton’s debt funding plan.They believed that

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