Why did the southern states vote for Hamilton's plan to assume state debts?
A) Most of them had been unable to pay off their debts and stood to gain from federal assumption of that debt.
B) Most southern senators and congressmen had speculated in state bonds and would make large profits if they were repaid in full by the federal government.
C) Southerners believed that a stronger union would benefit the South more than other sections of the nation.
D) Northern representatives agreed to transfer the federal capital from Philadelphia to a location on the Potomac River in Virginia.
E) Most of them had no bonds outstanding and so stood to neither lose nor gain by the proposal.
Question 2
When Alexander Hamilton argued that Congress had the constitutional authority to establish a national bank, what was the basis of his assertion?
A) Article 1, section 8 of the Constitution explicitly states that Congress has the authority to regulate banks.
B) The Ninth Amendment to the Constitution states any powers not contained in the Constitution are reserved to Congress.
C) The Constitution gives Congress the authority to do whatever is necessary and proper to perform its duties.
D) Article 2, section 3 of the Constitution allows the president as the chief executive of the country to establish any institution he sees fit.
E) The Tenth Amendment states that Congress can assume powers if those powers are implied in the Constitution.
