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Hamilton proposed that the federal government assume all of the state debts remaining after the Revolutionary War as a means of efficiently streamlining repayment and ensuring that no state government defaulted on its loans.
Hamilton suggested that in order to properly streamline repayment and guarantee that no state government defaulted on its loans, the federal government take on all of the state debts that were still outstanding after the Revolutionary War.
Who was Alexander Hamilton?
One of the country's founding fathers, Alexander Hamilton fought in the American Revolutionary War, contributed to the creation of the Constitution, and held the position of the first secretary of the treasury. The American financial system was founded by him, and he served as its primary architect.
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