Hamilton's Blessing: The Extraordinary Life and Times of Our National Debt
Penguin Books, 1998 - 220 psl.
Measured at the staggering amount of $5.1 trillion (and growing every day) the national debt is unfathomable to most Americans. What we may not realize is that the United States was born out of debt. After the Revolution, the brilliant Alexander Hamilton was less interested in paying down the Revolutionary war debt than in using it to create a vibrant national economy. If it is not excessive, he declared, a national debt will be to us a national blessing.In a fascinating narrative brimming with colorful characters, historical accidents, and American ingenuity, business historian John Steele Gordon leads us on a tour of an American institution whose largely unknown story has been integrally entwined with our country's destiny. At key points in U.S. history, Gordon shows how the national debt has been a potent instrument of fiscal policy in keeping the world safe for democracy.But how much debt is too much? At a time when we despair of balancing even a single year's budget, Hamilton's Blessing provides much needed perspective -- and hope.
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In 1700 , at the end of the Nine Year's War , the British national debt had stood at only £ 16.7 million . By 1720 it had risen to £ 50 million . In 1748 it reached £ 76 million ; in 1763 , £ 131 million . The expenses of the American ...
Federal government outlays in 1811 had been a little over $ 8 million , typical of what they had been in recent years , and the debt was only $ 45 million . The following year , however , with the outbreak of war , outlays jumped to ...
connections with Treasury Secretary Chase and saw to it that his older brother got to handle a $ 2 - million bond issue for Chase , a matter he conducted with great skill and even greater dispatch . Immediately after the disastrous ...
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LibraryThing ReviewVartotojo apžvalga - browner56 - LibraryThing
Most of us only know Alexander Hamilton as the man whose face graces our ten dollar bills. Or, perhaps we know him as the unfortunate answer to the Jeopardy question: Who was on the wrong end of a ... Skaityti visą apžvalgą
HAMILTON'S BLESSING: The Extraordinary Life and Times of Our National DebtVartotojo apžvalga - Kirkus
American Heritage columnist Gordon (The Scarlet Woman of Wall Street, 1988) deserves credit for attempting a brief history of the national debt aimed at a wide audience, but the result is somewhat ... Skaityti visą apžvalgą
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