How did Alexander Hamilton plan to pay of national debt
By creating a population tax
By printing new currency
By tax imports
By increasing exports
Alexander Hamilton's plan to pay off the national debt included several strategies:
1) Creating a population tax: Hamilton proposed implementing a tax on individuals based on their property and income. This would generate revenue that could be used to pay off the debt.
2) Printing new currency: Hamilton suggested issuing new government bonds and using the money from their sale to pay off existing debts. This involved creating new currency and using it to buy back existing debt.
3) Taxing imports: Hamilton advocated for placing tariffs on imported goods. This would generate revenue for the government, which could then be used to pay off the debt.
4) Increasing exports: Hamilton aimed to promote domestic manufacturing and increase exports. By boosting the country's export trade, more revenue could be generated to help reduce the national debt.
Overall, Hamilton's plan involved a combination of taxation, issuing new currency, and promoting economic growth through trade to pay off the national debt.