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In addition, only the people who purchased bonds from the farmers could trade in all of the bonds they bought at an incredibly low, almost insulting, cost. Another idea presented was for the government to make each state pay ach of their debts to the government. The national bank was to be run by congress and maintain a strict inspection...
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The national bank was to be run by congress and maintain a strict inspection. The bank would guarantee money for loans to build up and fund business and commerce.
The payment of the national debt was the biggest problem which affected Hamilton and James Madison the most. Madison agreed with Hamilton that the payment of the debt was essential; however, he disagreed with Hamilton about the system of bonds...
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Federalist Challenges in the 1790's
Bonds and their Evaluation
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