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The Compromise of 1790
The Compromise of 1790 was a compromise between Alexander Hamilton and Thomas Jefferson with James Madison where Hamilton won the decision for the national government to take over and pay the state debts, and Jefferson and Madison obtained the national capital (District of Columbia) for the South. Hamilton's plan was to retire the old depreciated obligations by borrowing new money at a lower interest rate.
The Compromise of 1790 was a compromise between Alexander Hamilton and Thomas Jefferson with James Madison where Hamilton won the decision for the national government to take over and pay the state debts, and Jefferson and Madison obtained the national capital (District of Columbia) for the South. Hamilton's plan was to retire the old depreciated obligations by borrowing new money at a lower interest rate.