Hamilton's report also provided for the assumption of state debt by the federal government.
The money was used to pay interest on the state debt and outfit troops.
With their position secure, the Democrats next tackled the state debt.
That will put more pressure on him to scale back spending while trying not to increase state debt.
With rising unemployment and associated benefits the size of state debt increased.
Says surpluses should be used to pay off state debts.
The revenue from the sale to the fund could be used to pay off state debt.
The first step to bringing state debt under control is the easiest: Make it public.
All of these tactics failed and drove up the state debt.
By the end of the war, over $90 million in state debt was outstanding.
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