what was Alexander Hamilton's main reason for insisting that all the nation's debt must be paid in full
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Alexander Hamilton's main reason for insisting that all the nation's debt must be paid in full was rooted in his belief in the importance of maintaining a strong and trustworthy creditworthiness for the newly formed United States.
To explain how to arrive at this answer, here is the process:
1. Historical background: Alexander Hamilton served as the first Secretary of the Treasury under President George Washington from 1789 to 1795. During his tenure, he played a crucial role in shaping the economic policies of the nation.
2. Fiscal Situation: Following the Revolutionary War, the United States had accumulated significant debts, both domestically and internationally, due to the war effort. This burden of debt threatened the stability and future prospects of the young nation.
3. Reputation and Creditworthiness: Hamilton believed that for the United States to thrive, it needed to establish a solid reputation and creditworthiness among foreign nations and domestic investors. By honoring its financial obligations, the United States would demonstrate its ability to manage its debts and inspire confidence in its economic stability.
4. Nation's Future Growth: Hamilton recognized that paying off the nation's debts would require a strong central government with the power to raise revenue through taxes and tariffs. This, in turn, would help establish a stable economic foundation for future growth and prosperity.
5. Securing Future Financing: Hamilton understood that paying off the existing debts would allow the United States to access credit for future endeavors, such as building infrastructure, funding public projects, and financing commercial ventures. By showing that the government was committed to meeting its obligations, creditors would be more willing to invest in the country's future.
In summary, Alexander Hamilton insisted on paying off all the nation's debt to strengthen the United States' creditworthiness, establish a solid financial reputation, secure future financing, and promote the nation's long-term economic growth and stability.
here is the answers
a) so the country could borrow in the future
b) so the country could be seen as a world leader
c) because many citizen's needed the money
b) because the nation had a moral obligation to do so