当麦迪逊研究汉密尔顿的国内债务资金提议时，出现了麻烦的第一个症状。一方面，汉密尔顿的建议看上去很简单：所有拥有政府证券的公民都应以par的方式偿还 - 是政府原始承诺的全部价值。但是，许多证券的原始持有人，主要是美国革命的退伍军人，他们在战争中获得了他们的服务薪水，然后以其原始价值的一小部分将其卖给了投机者。更重要的是，汉密尔顿计划的发布已制定...
(The first symptom of the trouble appeared when Madison studied Hamilton's proposal for the funding of the domestic debt. On the one hand, Hamilton's recommendation looked straightforward: All citizens who owned government securities should be reimbursed at par-that is, the full value of the government's original promise. But many original holders of the securities, mainly veterans of the American Revolution who had received them as pay for their service in the war, had then sold them at a fraction of their original value to speculators. What's more, the release of Hamilton's plan produced...)