United States History

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What is Jeffersinans position on funding debts, and justification?

His position is that each state should be responsible for its own debt.

But I don't know why, or if that is right.

  • United States History -

    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)

  • United States History -

    Okay, that is your view. but what was jeffersions and why?

  • United States History -

    Read about the debate between Hamilton and Jefferson here.

    http://en.wikipedia.org/wiki/First_Report_on_the_Public_Credit

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