Book
Licensed
Unlicensed
Requires Authentication
Alexander Hamilton on Finance, Credit, and Debt
-
David Cowen
Language:
English
Published/Copyright:
2018
About this book
This book traces the development of Alexander Hamilton’s financial thinking, policies, and actions through a selection of his writings. The financial historians and Hamilton experts Richard Sylla and David J. Cowen provide commentary that demonstrates the impact Hamilton had on the modern economic system.
Author / Editor information
Richard Sylla is professor emeritus of economics and the former Henry Kaufman Professor of the History of Financial Institutions and Markets at New York University Stern School of Business. He is a research associate of the National Bureau of Economic Research and chairman of the Museum of American Finance. Among his books are Founding Choices: American Economic Policy in the 1790s (2011) and Alexander Hamilton: The Illustrated Biography (2016).
David J. Cowen is president and CEO of the Museum of American Finance. He is author of The Origins and Economic Impact of the First Bank of the United States, 1791–1797 (2000) and coauthor of Financial Founding Fathers: The Men Who Made America Rich (2006).
David J. Cowen is president and CEO of the Museum of American Finance. He is author of The Origins and Economic Impact of the First Bank of the United States, 1791–1797 (2000) and coauthor of Financial Founding Fathers: The Men Who Made America Rich (2006).
Reviews
Matthew Jaremski, Colgate University:
Sylla and Cowen make clear to readers that Hamilton had a solid historical foundation and a farsighted vision for his policy prescriptions. Without their expert guidance, this structure would often be missed even if one were to read through a larger set of writings. I could not imagine a better team to write this book.
Sylla and Cowen make clear to readers that Hamilton had a solid historical foundation and a farsighted vision for his policy prescriptions. Without their expert guidance, this structure would often be missed even if one were to read through a larger set of writings. I could not imagine a better team to write this book.
Lord Mervyn King, former Governor of the Bank of England:
Seen the musical? Now read Hamilton’s original letters setting out his vision for the financial revolution that created today’s American economy—all excellently and helpfully edited by Richard Sylla and David J. Cowen.
Robert E. Rubin, co-chair emeritus, Council on Foreign Relations, and former U.S. Treasury Secretary:
Alexander Hamilton was the architect of the American financial system that endures to this day, making his founding-era writings on topics such as the national debt, trade, foreign investment, and central banking both resonant and relevant to contemporary readers. Sylla and Cowen provide helpful historical context, but they largely let Hamilton’s genius speak for itself. From short essays that resemble the modern op-ed to legal documents to his reports to Congress as Treasury Secretary, the book offers a compelling window into Hamilton’s visionary thinking on economic matters.
Ben Bernanke, former chairman of the Board of Governors of the Federal Reserve System:
Hamilton’s writings always impress for their clarity of argument and, especially, for their prescient vision of the future of the American economy. Thanks to Richard Sylla and David J. Cowen for reminding us of that.
Topics
-
Download PDFPublicly Available
Frontmatter
i -
Download PDFPublicly Available
Contents
vii -
Requires Authentication UnlicensedLicensed
Acknowledgments
xi -
Requires Authentication UnlicensedLicensed
Introduction
1 -
Requires Authentication UnlicensedLicensed
Chapter one To - (December 1779-March 1780) The necessity of a foreign loan is now greater than ever.
9 -
Requires Authentication UnlicensedLicensed
Chapter two To James Duane (September 3, 1780) My ideas of the defects of our present system.
19 -
Requires Authentication UnlicensedLicensed
Chapter three To Robert Morris (April 30, 1781) Banks . . . the happiest engines that ever were invented for advancing trade.
33 -
Requires Authentication UnlicensedLicensed
Chapter four The Continentalist (1781–1782) There is something noble and magnificent . . . a great Federal Republic.
47 -
Requires Authentication UnlicensedLicensed
chapter five Constitution of the Bank of New York (February 23–March 15, 1784) The Bank shall be called . . . the Bank of New York.
59 -
Requires Authentication UnlicensedLicensed
chapter six To Thomas Willing (September 13, 1789) My inviolable attachment to the principles which form the basis of public credit.
66 -
Requires Authentication UnlicensedLicensed
chapter seven Report Relative to a Provision for the Support of Public Credit (January 9, 1790) The debt of the United States . . . was the price of liberty.
69 -
Requires Authentication UnlicensedLicensed
Chapter eight To Wilhem and Jan Willink, Nicholaas and Jacob Van Staphorst, and Nicholas Hubbard (August 28, 1790) The faith of our Government is fully pledged by the laws.
105 -
Requires Authentication UnlicensedLicensed
Chapter nine First Report on the Further Provision Necessary for Establishing Public Credit (December 13, 1790) Most immediately essential . . . is the establishment of funds for paying the interest.
109 -
Requires Authentication UnlicensedLicensed
Chapter ten Second Report on the Further Provision Necessary for Establishing Public Credit (Report on a National Bank, December 14, 1790) A National Bank is an institution of primary importance.
117 -
Requires Authentication UnlicensedLicensed
Chapter eleven Report on the Establishment of a Mint (January 28, 1791) The unit in the coins of the United States . . . a dollar in the money of account.
145 -
Requires Authentication UnlicensedLicensed
Chapter twelve Opinion on the Constitutionality of an Act to Establish a National Bank (February 23, 1791) Every power vested in a Government is in its nature sovereign.
171 -
Requires Authentication UnlicensedLicensed
Chapter thirteen Prospectus of the Society for Establishing Useful Manufactures (August 1791) The establishment of Manufactures [is] of the highest importance.
185 -
Requires Authentication UnlicensedLicensed
Chapter fourteen Report on the Subject of Manufactures (December 5, 1791) The expediency of encouraging manufactures [is] pretty generally admitted.
196 -
Requires Authentication UnlicensedLicensed
Chapter fifteen To William Seton (February 10 and March 22, 1792) The superstructure of Credit is now too vast for the foundation.
223 -
Requires Authentication UnlicensedLicensed
Chapter seventeen The Defense of the Funding System (July 1795) Credit may be called a new power in the mechanism of national affairs.
274 -
Requires Authentication UnlicensedLicensed
Chapter eighteen Articles of Association of the Merchants Bank (April 7, 1803) We, the Subscribers, have formed a Company . . . the “Merchants’ Bank.”
307 -
Requires Authentication UnlicensedLicensed
Conclusion Legacies of the U.S. financial revolution.
317 -
Requires Authentication UnlicensedLicensed
Notes
323 -
Requires Authentication UnlicensedLicensed
Index
329
Publishing information
Pages and Images/Illustrations in book
eBook published on:
July 9, 2018
eBook ISBN:
9780231545556
Pages and Images/Illustrations in book
eBook ISBN:
9780231545556
Audience(s) for this book
General/trade;
