| Why? | The Initial compromise | Arguements | The final resolution. |
|---|---|---|---|
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Who is Alexander Hamilton?
This man had the idea of a National Bank
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- Answers vary (Up to our discretion)
This was one step of "the plan".
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Hamilton and the Federalists were in favor of a loose interpretation.
These people followed a "loose interpretation".
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What was the "Assumption Compromise” or "The Compromise of 1790"?
This was the name of the final solution.
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How much is $52 million?
The U.S. owed this much money to their allies
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Assumption was that the national government assumed responsibility for paying the debts of all 13 states as well as the obligations of the federal government.
Assumption
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Who were James Madison and the Antifederalists?
These people followed a "strict interpretation".
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Where is the Potomac River? (Not Washington D.C because it was not fully decided yet)
This was the location of the new capital.
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Who is James Madison?
This man had the idea of tariff bills
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The bank would bring in money by giving loans to businesses and the common people, then having them pay interest.
This explains how the plan would work.
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The power to charter a national bank is not specifically mentioned in the Constitution.
This was the basic problem.
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Jee, I wonder who. Thank you so much, Mr. Marshall!!!!
BONUS!!! Who is the best history teacher of all time?
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When was 1789?
This is when Hamilton proposed his Financial plan.
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- Answers vary (Up to our discretion)
How would Hamilton's plan solve this issue?
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A loose interpretation uses the elastic clause to support the idea of a national bank. It was believed that the bank was “necessary and proper” for the country.
What is a "loose interpretation"?
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The “Assumption Compromise” was a solution to the disagreement between the North & the South.
This is what the "Assumption Compromise" solved.
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Who are France, The Netherlands, and Spain?
The U.S. owed money to these allies in the form of war debt.
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1st: pay off all war debts.
2nd: raise government revenues 3rd: create a national bank
Hamilton proposed these three actions to address the issue.
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A “strict” interpretation is one that states that it is against the constitution to establish a national bank. The power to charter a national bank is not specifically mentioned in the Constitution.
What is a "strict interpretation"?
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The Assumption Compromise stated that in exchange for creating a national bank, the capital would be placed in the South.
This is what the assumption compromise stated.
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