1. Pick up Handout on side Table!!!

2. 1. List FIRSTS that have been established in America A) First I _ _ _ _ _ _ _ _ A _ _ _ _ _ _ B) First C _ _ _ _ _ _ C) First C _ _ _ _ S _ _ _ _ _ D) First R _ _ _ _ _ _ _ _

3. 2A) The National Debt 2A) The National Debt The total amount of Money that the government owes to others 2B) Bond 2B) Bond A certificate that promises to repay the money loaned, plus interest by a certain date 2A) The National Debt 2A) The National Debt The total amount of Money that the government owes to others 2B) Bond 2B) Bond A certificate that promises to repay the money loaned, plus interest by a certain date

4. 3) List 3: What are some possible JUSTIFIABLE REASONS to go into debt?? 3) List 3: What are some possible JUSTIFIABLE REASONS to go into debt??

5. 4) List 3: What are some possible DANGERS/RISKS of going into debt?? 4) List 3: What are some possible DANGERS/RISKS of going into debt??

6. Would be over 1 Billion dollars today!!!

7. The Problem  The national government and state governments had borrowed by issuing bonds — certificates that promise to repay the money loaned, plus interest, on a certain date.

8. The Debate  Hamilton—the federal government must repay both federal and state debts by buying up the old bonds and issuing new ones. The United States must repay all debts so it won ’ t lose the trust of investors.  Madison—Hamilton ’ s plan would reward speculators. They shouldn‘t make a big profit on the war. Besides, most southern states have already paid their debts. Other states should do the same.

9.  A Speculator: Someone who invests in a risky venture in the hope of making a large profit

10. The compromise  Hamilton promised to support putting the nation ’ s capital in the South if southerners agreed to his plan for repaying state debts.

13. to encourage economic growth  The government deposited money from taxes in the Bank.  The Bank issued paper money to pay the government ’ s bills and make loans to farmers and businesses. to make imported goods more expensive than American-made goods  Hamilton and many northerners wanted a high tariff to protect American goods from foreign competition.  Southern farmers opposed a high tariff.  Congress passed a tariff, but it was lower than the tariff Hamilton wanted.

14.  For each of the 3 topics you will make a Haiku  Format 5 Syllables 5 Syllables 7 Syllables 7 Syllables 5 Syllables 5 Syllables Example: This is a haiku You could write a better one Go ahead and try.