Alexander Hamilton; An Essay
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=■ Works, vol. 2, p. 238. Public Credit, 1790.
[70] FINANCE AND UNITY Some of Hamilton's reasons for assumption of the State debts are stated in the First Report on Public Credit. It would, he said, contribute to the stability of national finance, prevent compe- tition among the States for resources, and insure to the revenue laws a more ready and satisfactory execution.* In a later unfinished paper he made an able and elaborate defence of the funding sys- tem.'' He defended the assumption of t...he State debts for the following reasons : because superior justice was done in relieving the overburdened states and in equalizing the contributions of all the citizens; because it avoided "collisions, heart- burnings, and bickerings" among the different systems of the state finance ; because it secured the Union a full and complete command of the resources of the nation; because it consolidated and secured public credit ; because it made a more adequate provision for the entire debt of the country; because it rescued the national character from stain abroad, since foreigners would not dis- tinguish between infractions of credit by the State and by the general government; because it pre- vented instability in funds by placing them on the same foundation; because it facilitated a speedy and honorable extinguishment of the debt; be- cause It prevented the depopulation of the over- a Works, vol.
What to read after Alexander Hamilton; An Essay?
You can find similar books in the "Read Also" column, or choose other free books by Culbertson, William Smith, 1884-1966 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
=■ Works, vol. 2, p. 238. Public Credit, 1790.
[70] FINANCE AND UNITY Some of Hamilton's reasons for assumption of the State debts are stated in the First Report on Public Credit. It would, he said, contribute to the stability of national finance, prevent compe- tition among the States for resources, and insure to the revenue laws a more ready and satisfactory execution.* In a later unfinished paper he made an able and elaborate defence of the funding sys- tem.'' He defended the assumption of t...he State debts for the following reasons : because superior justice was done in relieving the overburdened states and in equalizing the contributions of all the citizens; because it avoided "collisions, heart- burnings, and bickerings" among the different systems of the state finance ; because it secured the Union a full and complete command of the resources of the nation; because it consolidated and secured public credit ; because it made a more adequate provision for the entire debt of the country; because it rescued the national character from stain abroad, since foreigners would not dis- tinguish between infractions of credit by the State and by the general government; because it pre- vented instability in funds by placing them on the same foundation; because it facilitated a speedy and honorable extinguishment of the debt; be- cause It prevented the depopulation of the over- a Works, vol.
What to read after Alexander Hamilton; An Essay?
You can find similar books in the "Read Also" column, or choose other free books by Culbertson, William Smith, 1884-1966 to read onlineMoreLess
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