MAKING OF A NEW NATION 1776 1800
PRESIDENT JOHN ADAMS FROM ALIEN AND SEDITION ACTS TO XYZ AFFAIR
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
To print more money
|
|
|
to steal gold from Fort Knox
|
|
|
to pay off the war debt from the American Revolution
|
|
|
to increase the war debt from the War of 1812
|
Detailed explanation-1: -He wanted the government to buy up all the bonds issued by both the national and state government before 1789. He then planned to issue new bonds to pay off the old debts. As the economy improved, the government would then be able to pay off the new bonds.
Detailed explanation-2: -His motive was as much political as economic. Through payment by the central government of the states’ debts, he hoped to bind the men of wealth and influence, who had acquired most of the domestically held bonds, to the national government.
Detailed explanation-3: -Hamilton’s main goals were to achieve the financial stability necessary to fight another war should one arise with the foreign threats of Britain and Spain, and to dull assertions of state power that might diminish national power.