Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: PeaRidge
From the American Thinker column:

"Alexander Hamilton knew that the key to a strong nation is the management and handling of debt. His work not only allowed the United States to pay off the Revolutionary War, but it set the nation on the course to prosperity never seen anywhere else on Earth at any point in history."

Pretty impressive, eh?

66 posted on 05/28/2012 3:27:46 PM PDT by Jacquerie (No court will save us from ourselves)
[ Post Reply | Private Reply | To 64 | View Replies ]


To: Jacquerie
It would be impressive, if there were any truth to it.

Hamilton's primary effort was to establish a bank of the United States. He temporarily succeeded in 1791.

This national bank was a disaster for the general public, which was everyone in all of the United States.

By its end in 1796, excessive printing and therefore money creation by the Hamilton bank caused an inflation rate of 72 percent .

It became so unpopular that its twenty year charter was not renewed by Congress, which puts the lie to the author's assumption.

Hamilton's bank was fought by many in the government who knew that despite prosperity for a few, allowing him to continue would result in limiting public liberty with debt.

Jefferson was a prime opponent. Eventually it was permanently de-funded by President Andrew Jackson,

73 posted on 05/29/2012 8:24:46 AM PDT by PeaRidge
[ Post Reply | Private Reply | To 66 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson