TAMIU History 1301 Exam 2 Part IV

TAMIU History 1301 Exam 2 Part IV - March 6 2008[HISTORY...

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March 6, 2008 [ HISTORY TEST REVIEW ] George Washington realized this and by using his prestige, they form a national bank to coordinate a national economy. It would generate money to pay off the debt. The bad thing about it is that it could dictate terms to the states. Western Lands Everybody wanted to expand, including the congress. Everyone agree expanding is a good thing but they argued how. Some states could expand to the west by stretching its border, but states like Rhode Island and New Jersey couldn’t. Under the AOC, the land to the west, the land will not belong to the currents states. It belonged to the government that will determine on how the land will parcel out. War debts/Speculators In order to pay off the war debt, the government floated bonds. The problem is that people were very poor and they need their bond money NOW. So speculator would buy a premature bond at a low price than its premature bond and speculators would make a killing.
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