Secretary of the Treasury Alexander Hamilton proposed his first Report on Public Credit in 1790. He suggested the federal
government redeem at face value the millions of dollars in securities issued by the Confederation. Hamilton's plan called for the
government to pay off the noteholders with newly issued government securities covering both principal and accumulated unpaid
interest. This would then create a permanent national debt.
Why did Alexander Hamilton want to create a permanent national debt?
A.
to enhance the government's credit
B.
to create a national bank
C.
to assist the French and British
D.
to help out struggling state governments