What was the purpose of Treasury Secretary Alexander Hamilton\'s plan, Report on
ID: 1158667 • Letter: W
Question
What was the purpose of Treasury Secretary Alexander Hamilton's plan, Report on Public Credit in 1790? a. It was a Justfcation of why the new natonal government had to passa pesonal income tax rather than s secuntses and coveng both prinipal an o b. It was a justfication for why the new national government should NOT assume state debts. 3 c. It was to ensure that wealthy merchants, who held the public debt, would be linked to the govermment's long-term security by assuming state debts an d. It was a justification for why the new national oovernment had to defauit on its financial debts. Hide Feedback IncorrectExplanation / Answer
Answer is option c)
Hamilton sought to "tie the creditors to the new central government" by linking their financial fortunes to the success of economic nationalism.