Posted by Lala on Monday, October 3, 2011 at 8:18pm.
Well, the states borrowed the money.
HOWEVER I assume that we are talking about Revolutionary War debts. That money went for a purpose, to found a new country. If that country was to succeed, it must take responsibility for the debts incurred in fighting its war. Therefore I would be inclined to say that the entire new nation was responsible for the debts. (Count me in Alexander Hamilton's camp)
Okay, that is your view. but what was jeffersions and why?
Read about the debate between Hamilton and Jefferson here.
http://en.wikipedia.org/wiki/First_Report_on_the_Public_Credit
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