The Gallatin Election Day Battle took place on 6 August 1838, when about 200 people attempted to forcibly prevent Mormons from voting in the newly created county's first election. The skirmish is often cited as the opening event of the 1838 Mormon War.
Wiktionary(0.00 / 0 votes)Rate this definition: sovereign debt(Noun) The amount of money outstanding that was borrowed by a government in order to finance expenditure not covered by taxation.
What Is Sovereign Debt? Definition: Sovereign debt is how much a country's government owes. It means the same thing as national debt, country debt or government debt because the word sovereign also means national government. It often refers to how much the country owes to outside creditors, which is why it is often used interchangeably with public debt. Sovereign debt is an accumulation of a government's annual deficits. Therefore, it shows how much more a government spends than it receives in revenue over time. Governments usually finance their debt through bonds, such as U.S. Treasury notes. These bonds have terms from three months to 30 years.