Part One  made  government responsible for all Revolutionary War debts, and funded that debt at its full value. 

The Second part, adopted over the strong objections of Madison and Jefferson, created a National Bank, to give the government some control of the money system. The Bank was a private stock corporation, but one-fifth of the members of its board of directors were to be appointed by the government. 

President Washington sought to resolve this dispute peacefully. In 1792, he issued a national proclamation admonishing westerners for their resistance to the "operation of the laws of the United States for raising revenue upon spirits distilled within the same."However, by 1794 the protests became violent. In July, nearly 400 whiskey rebels near Pittsburgh set fire to the home of John Neville, the regional tax collection supervisor. Left with little recourse and at the urgings of Secretary Hamilton, Washington organized a militia force of 12,950 men and led them towards Western Pennsylvania, warning locals "not to abet, aid, or comfort the Insurgents aforesaid, as they will answer the contrary at their peril"

The calling of the militia had the desired effect of essentially ending the Whiskey Rebellion. By the time the militia reached Pittsburgh, the rebels had dispersed and could not be found. The militia apprehended approximately 150 men and tried them for treason. A paucity of evidence and the inability to obtain witnesses hampered the trials. Two men, John Mitchell and Philip Weigel, were found guilty of treason, though both were pardoned by President Washington. By 1802, then President Thomas Jefferson repealed the excise tax on whiskey. Under the eye of President Washington, the nascent United States survived the first true challenge to federal authority.