The biggest economic problem that faced Alexander Hamilton as the treasury secretary was a large national debt.
Alexander Hamilton faced a huge national debt as secretary of the treasury after the revolution. At that time, the federal government owed about 50 million dollars while the State governments owed about half that amount.
However, some states had already settled their own debt and were against being taxed by the government to help pay off the debts owed by other states. Hamilton suggested that the federal government absorbed the debts owed by the state.
This caused a serious debate in the US congress. At the end, they were bale to pay off the debt and this enticed America to the rest of the world because of their willingness to pay their debt.
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