Federalist Challenges in the 1790's

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In the end, the government would put down the rebellion with ease, but it showed the deficiency of the new tax on whisky at the time. Another issue that was controversial was the establishment of a public credit system and paying the national debt. Hamilton suggested that citizens who had government bonds should be able to turn them in for new, interest-bearing bonds...
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Hamilton suggested that citizens who had government bonds should be able to turn them in for new, interest-bearing bonds. However, the simple solution Hamilton thought up had a few drawbacks. Many farmers had sold their bonds at very low prices and lost masses of money...
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