USA HISTORY

Detailed explanation-1: -The Compromise of 1790 was a compromise between Alexander Hamilton, Thomas Jefferson, and James Madison, where Hamilton won the decision for the national government to take over and pay the state debts, and Jefferson and Madison obtained the national capital, the called the District of Columbia, for the South.

Detailed explanation-2: -His innovative financial policies helped overcome the fiscal problems of the Confederacy, and also benefited an economic elite with which he had close ties. Alexander Hamilton conceived of the First Bank of the United States as a way to standardize American currency and cope with national Revolutionary War debt.

Detailed explanation-3: -The site of the new capital was the product of political compromise. As part of the struggle over Hamilton’s financial policy, Congress supported the Bank of the United States which would be headquartered in Philadelphia.

Detailed explanation-4: -The Hamiltonian economic program was the set of measures that were proposed by American Founding Father and first Secretary of the Treasury Alexander Hamilton in four notable reports and implemented by the United States Congress during George Washington’s first term.

Detailed explanation-5: -For six months, a bitter debate raged in Congress, until James Madison and Thomas Jefferson engineered a compromise. In exchange for southern votes, Hamilton promised to support locating the national capital on the banks of the Potomac River, the border between two southern states, Virginia and Maryland.