jan 1, 1790 - Jefferson-Hamilton Bargain (Compromise of 1790)

Description:

Meant to bring financial growth and stability, kind of worked. Supported by financiers, manufacturers, merchants, etc. Hinged on good relations with Britain which people didn't love. Hamilton thought that close ties with Europe was the future.

1. Create conditions where people would buy bonds (loan to the government)
2. Create new debt through the bonds and pay it off to prove to other countries that the US was trustworthy (basically build the US's credit score)
3. Create the Bank of the US as a main financial institution
4. Tax whiskey producers
5. Tariff to encourage domestic development

Jefferson didn't love it but agreed to accept it if the new capital could be between Maryland and Virginia.

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