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Hamiltonian Economic Program
The Hamiltonian economic program was the set of measures that were proposed by American Founding Father and first United States Secretary of the Treasury, Secretary of the Treasury Alexander Hamilton in four notable reports and implemented by the US Congress during George Washington's first term. They outlined a coherent program of national mercantilism government-assisted economic development…… * First Report on the Public Credit, First Report on Public Credit – pertaining to the assumption of federal and state debts and finance of the United States government (1790). Hamilton included his plan to tax distilled spirits among other domestic goods to boost revenue. He thought that a tax on spirits would be the least objectionable way to make money, as it could be philosophically equated to a pigovian or sin tax. However, his new tax set off the Whiskey Rebellion which highlighted separation in social classes as rural Pennsylvania farmers fought against the government. Eventual ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alexander Hamilton By William J Weaver
Alexander is a male given name. The most prominent bearer of the name is Alexander the Great, the king of the Ancient Greek kingdom of Macedonia who created one of the largest empires in ancient history. Variants listed here are Aleksandar, Aleksander and Aleksandr. Related names and diminutives include Iskandar, Alec, Alek, Alex, Alexandre, Aleks, Aleksa and Sander; feminine forms include Alexandra, Alexandria, and Sasha. Etymology The name ''Alexander'' originates from the (; 'defending men' or 'protector of men'). It is a compound of the verb (; 'to ward off, avert, defend') and the noun (, genitive: , ; meaning 'man'). It is an example of the widespread motif of Greek names expressing "battle-prowess", in this case the ability to withstand or push back an enemy battle line. The earliest attested form of the name, is the Mycenaean Greek feminine anthroponym , , (/ Alexandra/), written in the Linear B syllabic script. Alaksandu, alternatively called ''Alakasand ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Founding Father
The Founding Fathers of the United States, known simply as the Founding Fathers or Founders, were a group of late-18th-century American revolutionary leaders who united the Thirteen Colonies, oversaw the war for independence from Great Britain, established the United States, and crafted a framework of government for the new nation. Historians generally recognize prominent leaders of the Revolutionary Era (1765–1791), such as George Washington, Benjamin Franklin, John Adams, Thomas Jefferson, and Alexander Hamilton, as Founding Fathers. In addition, signers of the Declaration of Independence and the U.S. Constitution are widely credited with the nation's founding, while other scholars include all delegates to the Constitutional Convention in 1787 whether they signed the Constitution or not. National Archives: Signers of the Declaration, Outline of signers National Archives, Framers of the Constitution Furthermore, some historians include signers of the Articles of Confed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Secretary Of The Treasury
The United States secretary of the treasury is the head of the United States Department of the Treasury, and is the chief financial officer of the federal government of the United States. The secretary of the treasury serves as the principal advisor to the president of the United States on all matters pertaining to economic and fiscal policy. The secretary is a statutory member of the Cabinet of the United States, and is fifth in the United States presidential line of succession, presidential line of succession. Under the Appointments Clause of the United States Constitution, the officeholder is nominated by the president of the United States, and, following a confirmation hearing before the United States Senate Committee on Finance, Senate Committee on Finance, is confirmed by the United States Senate. The United States Secretary of State, secretary of state, the secretary of the treasury, the United States Secretary of Defense, secretary of defense, and the United States Att ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alexander Hamilton
Alexander Hamilton (January 11, 1755 or 1757July 12, 1804) was an American military officer, statesman, and Founding Father who served as the first United States secretary of the treasury from 1789 to 1795. Born out of wedlock in Charlestown, Nevis, Hamilton was orphaned as a child and taken in by a prosperous merchant. He pursued his education in New York before serving as an artillery officer in the American Revolutionary War. Hamilton saw action in the New York and New Jersey campaign, served for years as an aide to General George Washington, and helped secure American victory at the Siege of Yorktown. After the war, Hamilton served as a delegate from New York to the Congress of the Confederation. He resigned to practice law and founded the Bank of New York. In 1786, Hamilton led the Annapolis Convention to replace the Articles of Confederation with the Constitution of the United States, which he helped ratify by writing 51 of the 85 installments of ''The Federalist ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US Congress
The United States Congress is the legislature of the federal government of the United States. It is bicameral, composed of a lower body, the House of Representatives, and an upper body, the Senate. It meets in the U.S. Capitol in Washington, D.C. Senators and representatives are chosen through direct election, though vacancies in the Senate may be filled by a governor's appointment. Congress has 535 voting members: 100 senators and 435 representatives. The U.S. vice president has a vote in the Senate only when senators are evenly divided. The House of Representatives has six non-voting members. The sitting of a Congress is for a two-year term, at present, beginning every other January. Elections are held every even-numbered year on Election Day. The members of the House of Representatives are elected for the two-year term of a Congress. The Reapportionment Act of 1929 establishes that there be 435 representatives and the Uniform Congressional Redistricting Act requires tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George Washington
George Washington (February 22, 1732, 1799) was an American military officer, statesman, and Founding Father who served as the first president of the United States from 1789 to 1797. Appointed by the Continental Congress as commander of the Continental Army, Washington led the Patriot forces to victory in the American Revolutionary War and served as the president of the Constitutional Convention of 1787, which created the Constitution of the United States and the American federal government. Washington has been called the " Father of his Country" for his manifold leadership in the formative days of the country. Washington's first public office was serving as the official surveyor of Culpeper County, Virginia, from 1749 to 1750. Subsequently, he received his first military training (as well as a command with the Virginia Regiment) during the French and Indian War. He was later elected to the Virginia House of Burgesses and was named a delegate to the Continental Congress ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Report On The Public Credit
The First Report on the Public Credit was one of four major reports on fiscal and economic policy submitted by Founding Father and first US Treasury Secretary Alexander Hamilton on the request of Congress. The report analyzed the financial standing of the United States and made recommendations to reorganize the national debt and to establish the public credit. Commissioned by the US House of Representatives on September 21, 1789, the report was presented on January 9, 1790,Malone, 1960, p. 260 at the second session of the 1st US Congress. The 40,000-word document called for full federal payment at face value to holders of government securities ("redemption") and the federal government to assume funding of all state debt ("assumption") The political stalemateEllis, 2000, p. 50 in Congress that ensued led to the Compromise of 1790, which located the permanent US capital on the Potomac River ("residency"). The Federalists' success in winning approval for Hamilton's reforms led to th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pigovian
A Pigouvian tax (also spelled Pigovian tax) is a tax on any market activity that generates negative externalities (i.e., external costs incurred by the producer that are not included in the market price). The tax is normally set by the government to correct an undesirable or inefficient market outcome (a market failure), and does so by being set equal to the external marginal cost of the negative externalities. In the presence of negative externalities, social cost includes private cost and external cost caused by negative externalities. This means the social cost of a market activity is not covered by the private cost of the activity. In such a case, the market outcome is not efficient and may lead to over-consumption of the product. Often-cited examples of negative externalities are environmental pollution and increased public healthcare costs associated with tobacco and sugary drink consumption.. In the presence of positive externalities (i.e., external public benefits gaine ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Whiskey Rebellion
The Whiskey Rebellion (also known as the Whiskey Insurrection) was a violent tax protest in the United States beginning in 1791 and ending in 1794 during the presidency of George Washington. The so-called "whiskey tax" was the first tax imposed on a domestic product by the newly formed federal government. Beer was difficult to transport and spoiled more easily than rum and whiskey. Rum distillation in the United States had been disrupted during the American Revolutionary War, and whiskey distribution and consumption increased afterwards (aggregate production had not surpassed rum by 1791). The "whiskey tax" became law in 1791, and was intended to generate revenue for the war debt incurred during the Revolutionary War. The tax applied to all distilled spirits, but consumption of American whiskey was rapidly expanding in the late 18th century, so the excise became widely known as a "whiskey tax". Farmers of the western frontier were accustomed to distilling their surplus rye, b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Second Report On Public Credit
The Second Report on the Public Credit, also referred to as The Report on a National Bank,Malone, 1960, p. 259 was the second of four influential reports on fiscal and economic policy delivered to the US Congress by the US Secretary of the Treasury, Alexander Hamilton.Staloff, 2005, p. 91 Submitted on December 14, 1790, the report called for the establishment of a central bank with the primary purpose to expand the flow of legal tender, monetizing the national debtMalone, 1960, p. 262 by issuing of federal bank notes.Miller, 1960, p. 53 Modeled on the Bank of England, the privately held but publicly funded institution would also serve to process revenue fees and to perform fiscal duties for the federal government.Staloff, 2005, p. 97 Hamilton regarded the bank as indispensable to produce a stable and flexible financial system.Brock, 1957, p. 44 The ease with which Federalists advanced legislation to incorporate the bank impelled agrarian opposition that was hostile to Hamilton's e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Report On Manufactures
The Report on the Subject of Manufactures, generally referred to by its shortened title Report on Manufactures, is the third major report, and ''magnum opus'', of American Founding Father and first United States Treasury Secretary Alexander Hamilton. It was presented to the US Congress on December 5, 1791. It laid forth economic principles rooted in both the mercantilist system of Elizabeth I's England and the practices of Jean-Baptiste Colbert of France. The main ideas of the Report would later be incorporated into the " American System" program by US Senator Henry Clay of Kentucky and his Whig Party. Abraham Lincoln, who called himself a "Henry Clay tariff Whig" during his early years, would later make the principles cornerstones, together with his opposition to the institution and the expansion of slavery, of the fledgling Republican Party. Hamilton's ideas would form the basis for the American School of economics. Economic plan Hamilton reasoned that to secure American ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Report On A Plan For The Further Support Of Public Credit
The Report on a Plan for the Further Support of Public Credit, is the "valedictory" report issued to the US Congress on January 16, 1795 by the first Secretary of the Treasury, Alexander Hamilton. In addition to defending the fiscal programs that he had imposed thus far and extolling a system of finance that was "prosperous beyond all expectations" the report enumerated existing sources of revenue, outlined the plan for the "Redemption of the public debt" and its accruing interest to stabilize the current system of funding, and proposed amendments to the System of Public Credit that were designed for the complete extinguishment government debt and to "prevent that progressive accumulation of Debt which must ultimately endanger all Government." Essentially, his report was submitted to address the fears of the Democratic-Republicans that the public debt would later become unmanageable. Hamilton subsequently discusses resolutions adopted by Congress for the sequestration of Britis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
