Home school of American history; embracing the growth and achievements of our country from the earliest days of discovery and settlement to the present eventful year .. . citizens, as well as the war debt of each State. This boldand creditable ground greatly im-proved public credit, before any pro-vision was made for the payment ofthe vast debt. Hamiltons plan was to fundthe entire debt and issue new certiti-cates. It was vehemently opposed,especially the ])rovision that theState debts should be assumed by the 1 ^1x111 ALBXANDEH HAMILTON. general goverinneat; but solely by (hst-isw). his wonde
Home school of American history; embracing the growth and achievements of our country from the earliest days of discovery and settlement to the present eventful year .. . citizens, as well as the war debt of each State. This boldand creditable ground greatly im-proved public credit, before any pro-vision was made for the payment ofthe vast debt. Hamiltons plan was to fundthe entire debt and issue new certiti-cates. It was vehemently opposed,especially the ])rovision that theState debts should be assumed by the 1 ^1x111 ALBXANDEH HAMILTON. general goverinneat; but solely by (hst-isw). his wonderful ability he carried the measure through Congress. The debatesharpened the lines between the Federalists and Anti-Federalists or Republi-cans. It will be remembered that at that time neither North Carolina nor EhodeIsland had adopted the Constitution. The former called a convention, ami, onthe 13th of November, 1789, ratified it, but Rhode Island continued to sulk untilProvidence and Newport withdrew from the State, and and Con-necticut made ready to parcel the State between them. This frightened her,and, on May 29, 1790, she joined her 158 WASHINGTON, ADAMS, AND JEFFERSON. The following year Hamilton gave another proof of his power by carryingthrough Congress, in the face of the strongest 0])position, a measure for therelief of the financial straits of the government. The only banks in thecountry were one each in Philadelphia, New York, and Boston, all of whichwere State institutions. He advocated the establishment of a bank in which thegovernment should be one-fifth owner of the caj)ital stock of $10,000,000 and apreferred borrower to the same amount. It was to be under private manage-ment. In the face of the strong o])position, the act creating it was j)assed, andit was chartered for twenty years. The subscriptions required that one-fourthshould be paid in specie and the rest in six per cent, certificates of the two hours after the sub
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