Professional Documents
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U.S. History
Miss Frascht
President Washington
1789
Election: Washington VS John
Adams
Washington wins with 69 Electoral
Votes
Department of Treasury:
Led by Alexander Hamilton
Handled financial matters
Attorney General
Edmund Randolph
Handle governments legal affairs
Opposition
Did not agree with paying off
individual debts
Bonds: Paper notes promising
to repay money in certain
amount of time
Most purchased by
speculators: people who
risk money to make a
larger profit
Hamiltons plan would
make speculators rich
Southern States: had much less
debt than Northern states,
believed they would have to
pay more than their share
Compromise
Jefferson and Madison vote for
Hamiltons plan, Hamilton would
support locating the new capital in
the South
Area became Washington D.C.
Hamiltons financial plan was passed
**Connect**
Why is compromise important in
government both then and now?