202.The National Debt
The National Debt was the price of inde - pendence . During the war Congress had been too poor to pay gold and silver for what it needed to carry on the war . So it had given promises to pay at some future time . These promises to pay were called by var - ious names as bonds , certificates of indebtedness , and paper money . Taken al together they formed what was called the Domestic Debt , be - cause it was owed to persons living in the United States . There was also a Foreign Debt . This was owed to the King of France and to other for - eigners who had lent money to the United States .
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