Financing the Government

Bonds

What

A note given by the government promising to pay off a loan with interest

Hamilton

• Congress should pay at full value
• Congress should assume state debts/bonds as well

Bank of the United States

What

A national bank

• U.S dollars put into the bank to be managed
• Gives loans and makes money
• Currency

Why

Stability in currency and lead to economic success

Significance

Loose construction (implied) vs Strict construction

Whiskey Rebellion

Why

• Protest the excise tax on whiskey
• Tax: Revenue for the U.S government

When

Rebellion: 1794

What

• Rebelled to stop collection of taxes

Significance

• Proved the new government under Constitution could prevent mobocracy
• Worried some that the federal government was too powerful