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Passage of the Assumption Bill

When: July 26, 1790
Where: U.S. Congress, sitting in New York City as temporary capital
Part of: Passage of the Assumption Bill

The Assumption Bill cleared the House on July 26, 1790, allowing the federal government to assume state debts.

The bill, implementing Hamilton's First Report on the Public Credit, passed by a vote of 34 to 28. This established the foundation for public credit and resolved the legislative deadlock through the Compromise of 1790. The vote occurred while New York City served as the nation's temporary capital; the legacy record's Philadelphia location is not supported by the supplied passages.

Sources

First Report on the Public Credit Wikipedia, revision of 2026-09-16
Compromise of 1790 Wikipedia, revision of 2026-09-21

Machine-drafted from the cited Wikipedia passages and checked by a reviewing model, not by a human editor. Every passage cites the revision it was written from; dates and places follow those passages.