What action(s) did Treasury Secretary Hamilton recommend to Congress to address the crushing federal and state debts faced by the federal and the state governments?
A) the writing off of all national government and state government debts accrued during the Revolutionary War period without paying off any federal or state creditors
B) the writing off of all national government Revolutionary War debt and permitting each state government to handle their Revolutionary War debt as they saw fit
C) the federal government paying off all Revolutionary War debt accrued by the national government and the federal government assuming and paying off of all state government debt accrued during the Revolutionary War period
D) the assumption and paying off of national government Revolutionary War debt at a 50 percent discount and encouraging states to handle their Revolutionary War debt similarly
Answer: C
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