"States, like individuals, who observe their engagements, are respected and trusted: while the reverse is the fate of those who pursue an opposite conduct... The proper funding of the present debt, will render it a national blessing." — Alexander Hamilton, Report on Public Credit, January 1790
The political bargain that secured passage of Hamilton's assumption plan in 1790 included:
- A
Banning the international slave trade immediately
- B
Repealing the federal whiskey excise
- C
Admitting Vermont as the fourteenth state
- Dcheck_circle
Locating the permanent national capital on the Potomac River
Explanation
In the Compromise of 1790 (the dinner-table bargain), Madison and Jefferson allowed assumption to pass in exchange for placing the capital on the Potomac. Vermont's admission, the whiskey excise, and the slave-trade clause were separate matters.