Which of the following statements best expresses the criticism leveled against Hamilton's proposal that Congress assume outstanding state debts?
A) The plan is fine except for the fact that it will cost the government far more than it can afford.
B) The plan will enrich speculators who have purchased securities at a small fraction of their face value.
C) The plan will disrupt the national economy.
D) The plan violates the Constitution, which does not specifically authorize Congress to assume state debts.

Question

Quizplus · Accepted Answer

The criticism leveled against Hamilton's proposal was that it would enrich speculators who had purchased securities at a small fraction of their face value. This was seen as unfair to those who had held onto the securities and paid the full value. The other answer choices are either incorrect or do not accurately reflect the criticisms of the proposal.

Which of the Following Statements Best Expresses the Criticism Leveled