Recall the Application about why the U.S. federal government took over the debt of the state governments in the late 1700s to answer the following question(s).
-According to this Application, in exchange for the federal government absolving their debts, the states were willing to give up their ability to raise revenue from collecting
A) import tariffs.
B) income taxes.
C) property taxes.
D) all of the above

Question

Quizplus · Accepted Answer

The federal government took over the state debts in exchange for the states giving up their ability to collect import tariffs, which was a significant source of revenue. This move was part of Alexander Hamilton's plan to centralize financial power at the federal level, thereby strengthening the federal government.

Recall the Application About Why the U