what economic problem did the U.S. face in the 1790’s?

NetherCraft 0

and why?

3 Answers

  • Financial problems plagued the new American government under the Constitution. The national debt increased greatly during the previous Revolutionary War. During the Revolutionary War the government was under the “Articles of Confederation” which had no authority to raise funds to pay the American soldiers. During the 1790s under the Constitution with Washington in office the federal government owed millions of dollars in debt. The veterans needed to get paid. In July 1790 Congress passed a law that provided that the national government would assume the wartime debts of the states. It called for the borrowing of 12 million dollars from other countries. Congress also passed a tax on whisky and a tax on imports to help alleviate the situation. I hope that this has been a help to you.

  • https://shorturl.im/awKCr

    The economic problems facing US business (and International business) is the direct result of poor management, lacking oversight, criminal conduct and personal greed both in business and society. If it gets much worse (auto industry collapse) we will be only competitive with the third world markets.

  • The federal and state governments needed to repay money they had borrowed to pay for the Revolutionary War.

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