This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1910 edition. Excerpt: ...this Constitution shall be as valid against the United States under this Constitution as under the Confederation" (Art. VI, sec. 1), and that "no State shall coin money or emit bills of credit" (Art. I, sec. 10). In 1789 the Department of the Treasury was founded, and Alexander Hamilton became its first ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1910 edition. Excerpt: ...this Constitution shall be as valid against the United States under this Constitution as under the Confederation" (Art. VI, sec. 1), and that "no State shall coin money or emit bills of credit" (Art. I, sec. 10). In 1789 the Department of the Treasury was founded, and Alexander Hamilton became its first Secretary. I have touched upon this early history very briefly. Its chief interest and importance for present-day controversies lies in the fact that the Government of the United States inherited from the States of which it was composed the vicious principle of confounding debt with currency. The crude notion of raising money by debasing the currency whether by adulterating the metal or by issuing an excess of paper has now been relegated to the least civilized and intelligent states of the world. But traditions die hard, and the system of propping up credit by currency regulations may still be traced in the laws of the United States. (B) 1790-1812. After the passage of the Constitution Hamilton prepared his first report on public credit (January 9, 1790), in which he summarized the amount of debt as follows: Foreign debt, with arrears of interest $11, 710,000 Estimated domestic debt 27, 383, 000 Accrued interest on the domestic debt 13, 030, 000 Unliquidated debt 2,000,000 Total 54,123,000 The question of funding was complicated by the depreciation that had occurred. Were the holders of continental certificates to be paid at their face value, or at their face value plus the accrued interest, or at the sum they had actually given? This was hotly debated, and a wild speculation in certificates ensued. But Hamilton prevailed, and it was agreed that all holders should receive the face value of their certificates plus the accrued...
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Add this copy of The Credit of Nations to cart. $46.69, good condition, Sold by Bonita rated 4.0 out of 5 stars, ships from Newport Coast, CA, UNITED STATES, published 2010 by Nabu Press.
Add this copy of The Credit of Nations to cart. $55.39, new condition, Sold by Booksplease rated 4.0 out of 5 stars, ships from Southport, MERSEYSIDE, UNITED KINGDOM, published 2015 by Sagwan Press.
Add this copy of The Credit of Nations to cart. $58.41, good condition, Sold by Bonita rated 4.0 out of 5 stars, ships from Newport Coast, CA, UNITED STATES, published 2015 by Sagwan Press.
