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Asked by: Estanislaa Juntermanns
events and attractions birthHow much was Thomas Jefferson in debt?
Moreover, how did Jefferson feel about debt?
Jefferson opposed paying off national debt, because he didn't like that a national bank would give the government more authority than they already had and was not necessary. He felt that the government should only take actions that the nation needs.
Accordingly, how did Thomas Jefferson get his wealth?
He owed his good fortune to the financial success of his father, Peter Jefferson, a planter of some means. By the time of his death in 1757, the elder Jefferson owned 7,000 acres of land in western Virginia.
Factors Contributing to THE DEBT Jefferson inherited a great deal of debt from his father-in-law, John Wayles, when Wayles died in 1774. Although Jefferson was wealthy in land and slaves, farming proved to be an unreliable and inadequate source of income.