Monday, April 20, 2009

How did the funding of the national debt in Hamilton's financial plan alienate the common people?

I%26#039;m writing a paper on how Hamilton%26#039;s financial plan contributed to the two-party system in America. I need to know how funding the national debt alienated the common people. :)





Thank you!

How did the funding of the national debt in Hamilton%26#039;s financial plan alienate the common people?
Hamilton%26#039;s idea was for rich people to loan the government money through bonds. In order for those bonds to retain any value (and the people holding them to be able to cash them in later), the government would have to survive. Therefore, those rich people would use their influence to make sure the government succeeded. Common people living hand-to-mouth didn%26#039;t have extra money to loan out, or influence that would affect the fate of the new government, so they were pretty much left out of this process.


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