Answer:
The new American authorities faced huge ecomic challenges in the 1780s. As a result of war , the federal debt was $54 million with interests. The states owned another $25 million. Paper money issued by the Continental Congress was useless and foreign credit unavailable. Secretary of the Treasury Alexander Hamilton advocated an expansion of federal taxation; a tariff and a tax excise on whisky, for example. He said that the federal government should take over and pay off all debts incurred by the states during the Revolutionary War.
Explanation:
