What they did not bring up in this clip is that the Southern states - being far wealthier - had paid off their debts. The Northern states had not. So nationalizing the debt effectively meant the Southern states would be subsidizing the Northern states. It started right from the very beginning. The Northern states were looking to squeeze money and power out of the Southern states from day one. This is what came to a head in 1860.
Yes indeed— the “redistribution of wealth” in the form of taxes to “pay a war debt” incurred by loans made by the National Bank was to put all the States back in debt within the Compact of the Constitution. It was un Constitutional then and... stil is. Northern states sucking the pockets of the self- sufficient and paid up Southern— that is how it started. Keeping in mind that New England still had slavery when Jefferson came back from his ambassadorship to France.
The mercantile Hamilton (who was a bastard from the Caribbean trying to “be” somebody) had his hands all over this. The Bank did much to ruin our Constitutional Republic, as it does now. Chartered by Congress, and the 1913 Fed was renewed in 2013 for another 100 years— by obamaumao the first (a creation of the Saud/Muslim Brotherhood).