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Author: Alexander Hamilton Publisher: Coventry House Publishing ISBN: Category : History Languages : en Pages : 50
Book Description
In 1791, The First Bank of the United States was a financial innovation proposed and supported by Alexander Hamilton, the first Secretary of the Treasury. Establishment of the bank was part of a three-part expansion of federal fiscal and monetary power, along with a federal mint and excise taxes. Hamilton believed that a national bank was necessary to stabilize and improve the nation's credit, and to improve financial order, clarity, and precedence of the United States government under the newly enacted Constitution. Alexander Hamilton (1755-1804) was a founding father of the United States, one of the most influential interpreters and promoters of the Constitution, the founder of the American financial system, and the founder of the Federalist Party. As the first Secretary of the Treasury, Hamilton was the primary author of the economic policies for George Washington’s administration. Hamilton took the lead in the funding of the states’ debts by the federal government, the establishment of a national bank, and forming friendly trade relations with Britain. He led the Federalist Party, created largely in support of his views; he was opposed by the Democratic Republican Party, led by Thomas Jefferson and James Madison, which despised Britain and feared that Hamilton’s policies of a strong central government would weaken the American commitment to Republicanism.
Author: Alexander Hamilton Publisher: Coventry House Publishing ISBN: Category : History Languages : en Pages : 50
Book Description
In 1791, The First Bank of the United States was a financial innovation proposed and supported by Alexander Hamilton, the first Secretary of the Treasury. Establishment of the bank was part of a three-part expansion of federal fiscal and monetary power, along with a federal mint and excise taxes. Hamilton believed that a national bank was necessary to stabilize and improve the nation's credit, and to improve financial order, clarity, and precedence of the United States government under the newly enacted Constitution. Alexander Hamilton (1755-1804) was a founding father of the United States, one of the most influential interpreters and promoters of the Constitution, the founder of the American financial system, and the founder of the Federalist Party. As the first Secretary of the Treasury, Hamilton was the primary author of the economic policies for George Washington’s administration. Hamilton took the lead in the funding of the states’ debts by the federal government, the establishment of a national bank, and forming friendly trade relations with Britain. He led the Federalist Party, created largely in support of his views; he was opposed by the Democratic Republican Party, led by Thomas Jefferson and James Madison, which despised Britain and feared that Hamilton’s policies of a strong central government would weaken the American commitment to Republicanism.
Author: Robert E. Wright Publisher: University of Chicago Press ISBN: 0226910687 Category : Biography & Autobiography Languages : en Pages : 261
Book Description
The authors chronicle how a different group of nine founding fathers forged the wealth and institutions necessary to transform the American colonies from a diffuse alliance of contending business interests into one cohesive economic superpower.
Author: Bray Hammond Publisher: Princeton University Press ISBN: 9780691005539 Category : Business & Economics Languages : en Pages : 792
Book Description
This is a book about politics and banks and history. Yet politicians who read it will see that the author is not a politician, bankers who read it will see that he is not a banker, and historians that he is not an historian. Economists will see that he is not an economist and lawyers that he is not a lawyer. With this rather cryptic and exhaustive disclaimer, Bray Hammond began his classic investigation into the role of banking in the formation of American society. Hammond, who was assistant secretary of the Board of Governors of the Federal Reserve System from 1944 to 1950, presented in this 771-page book the definitive account of how banking evolved in the United States in the context of the nation's political and social development. Hammond combined political with financial analysis, highlighting not only the in.uence politicians exercised over banking but also how banking drove political interests and created political coalitions. He captured the entrepreneurial, expansive, risk-taking spirit of the United States from earliest days and then showed how that spirit sometimes undermined sound banking institutions. In Hammond's view, we need central banks to keep the economy on an even keel. Historian Richard Sylla judged the work to be "a wry and urbane study of early U.S. financial history, but also a timeless essay on how Americans became what they are." Banks and Politics in America won the Pulitzer Prize for history in 1958.
Author: David A. Alhadeff Publisher: Univ of California Press ISBN: 0520345541 Category : Business & Economics Languages : en Pages : 268
Book Description
This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1954.
Author: David Jack Cowen Publisher: Routledge ISBN: 9780815338376 Category : Business & Economics Languages : en Pages : 323
Book Description
This book focuses on the impact of the introduction of the First Bank of the United States (1791-1811) on the nascent financial system. The Bank dominated the financial scene of early America. Its prestigious list of clients included the United States Treasury, which deposited the bulk of the nation's money in the vaults of the Bank in return for various banking services. The stage is set by describing the background events of 1791: Treasury Secretary Hamilton's Bank Report and Congress's reaction, the script bubble for Bank shares, and the choosing of board members and their decision to create nationwide branches. The Bank's headquarters commenced business on December 12, 1791. New evidence shows how the Bank strongly affected the economy within two months of opening its doors, initially by flooding the market with its paper and then by sharply reversing course and curtailing liquidity. While the added liquidity helped initially to push a bull market in securities higher, the subsequent draincaused the Panic of 1792 by forcing speculators to sell their stocks. The role of early central banking is discussed in light of the Panic, the Bank, and the U.S. Treasury Department. Evidence is presented that points to a new interpretation: the Treasury Secretaries played the role of the Central Banker and the Bank acted the part of the Central Bank. There was continuity in the mindsets, dialogues and actions of the Treasury Secretaries, leading to a conclusion that early U.S. financial policy makers developed an operational central banking thought and procedures during the era of the First Bank. The financial implications of Bank policy on several historical events during the 1790's are examined. By focusing on specific times when the board directed a change in loan policy, new conclusions are drawn with respect to the Bank's impact on the credit markets and its central banking role. This book adds clarity to the ongoing historical debates about the behavior of the early U.S. economy and its creditmarkets by examining the institution which was at the center of the American business world at that time.
Author: Roger G. Kennedy Publisher: Oxford University Press ISBN: 0190288426 Category : History Languages : en Pages : 369
Book Description
Thomas Jefferson advocated a republic of small farmers--free and independent yeomen. And yet as president he presided over a massive expansion of the slaveholding plantation system, particularly with the Louisiana Purchase, squeezing the yeomanry to the fringes and to less desirable farmland. Now Roger G. Kennedy conducts an eye-opening examination of the gap between Jefferson's stated aspirations and what actually happened. Kennedy reveals how the Louisiana Purchase had a major impact on land use and the growth of slavery. He examines the great financial interests (such as the powerful land companies that speculated in new territories and the British textile interests) that beat down slavery's many opponents in the South itself (Native Americans, African Americans, Appalachian farmers, and conscientious opponents of slavery). He describes how slaveholders' cash crops--first tobacco, then cotton--sickened the soil and how the planters moved from one desolated tract to the next. Soon the dominant culture of the entire region--from Maryland to Florida, from Carolina to Texas--was that of owners and slaves producing staple crops for international markets. The earth itself was impoverished, in many places beyond redemption. None of this, Kennedy argues, was inevitable. He focuses on the character, ideas, and ambitions of Thomas Jefferson to show how he and other Southerners struggled with the moral dilemmas presented by the presence of Indian farmers on land they coveted, by the enslavement of their workforce, by the betrayal of their stated hopes, and by the manifest damage being done to the earth itself. Jefferson emerges as a tragic figure in a tragic period. Mr. Jefferson's Lost Cause was a CHOICE Outstanding Academic Title for 2003.
Author: Alexander Hamilton
Author: Alexander Hamilton
Author: Nicholas B. Wainwright
Author: Virginius Gilmore Iden
Author: Joan Edelman Spero
Author: Robert E. Wright
Author: Bray Hammond
Author: David A. Alhadeff
Author: David Jack Cowen
Author: Roger G. Kennedy
Author: Clément Juglar