What was a major economic concern for the U.S. in 1790?

A major economic concern for the United States in 1790 was the national debt and state debts. After the Revolutionary War, the new nation faced significant financial challenges, including the need to manage both the debts incurred by the federal government and those owed by individual states. The total amount of money owed was substantial, and ensuring the stability and credit of the nation was paramount. This concern was significant as it influenced fiscal policies and efforts to create a cohesive economic structure, which ultimately led to the establishment of a national bank and other financial institutions aimed at addressing these debts.

Understanding this context highlights how the focus on consolidating debt was seen as essential for establishing financial credibility and stability in the fledgling country. The elements of national debt and state debts were pivotal in shaping early American economic policy and the relationship between the federal government and the states, making it the central concern of the time.