7/37 Besides this many of the States had paid each its own cost of equipping and maintaining its contingent. Hamilton now proposed that the United States Government should assume these various State debts, which would aggregate $21,000,000 and bring the National debt to a total of $75,000,000. Hamilton's suggestion that the State debts be assumed caused a vehement outcry. Its opponents protested that no fair adjustment could be reached. The Assumptionists retorted that this would be the only fair settlement, but the Anti-Assumptionists voted them down by a majority of two. |