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Report On 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 t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
P13 3Large
P13 may refer to: Aircraft * Aviatik P.13, a German reconnaissance biplane * Lippisch P.13, a German experimental bomber * Thomas-Morse XP-13 Viper, an American experimental biplane fighter Transport * Highway P13 (Ukraine), now numbered H28 * London Buses route P13 * P13 Road (Zimbabwe) * San Carlos Apache Airport, in Gila County, Arizona, United States Other uses * Matumbi language * NRK P13, a Norwegian radio station * Papyrus 13, a biblical manuscript * Pattern 1913 Enfield, a rifle * Puente 13 Puente 13 (P13) is a street gang in La Puente, California. They are Sureños. They are described as Mafia related or Mexican mafia related. They were formed ''c.'' 1953 as the Bridgetown Gentlemen (''puente'' is Spanish "bridge"), or "Old Town Pu ..., a street gang in La Puente, California * P13, a film rating in Malaysia See also * 13P (other) {{Letter-NumberCombDisambig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Domestic Debt
In public finance, internal debt or domestic debt is the component of the total government debt in a country that is owed to lenders within the country. Internal government debt is complement is external government debt. The main sources of funds for internal debts are commercial banks and other financial institutions. Internal public debt owed by a government (money a government borrows from its citizens) is part of the country's national debt. It is a form of fiat creation of money, in which the government obtains finance not by creating it ''de novo'', but by borrowing it. The money created is in the form of treasury securities or securities borrowed from the central bank. These may be traded but will only rarely be spent on goods and services. In this way, the expected increase in inflation due to the increase in national wealth is lower than if the government had simply created the money ''de novo'' and increased the more liquid forms of wealth (i.e., the money supply ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Nationalism
Economic nationalism, also called economic patriotism and economic populism, is an ideology that favors state interventionism over other market mechanisms, with policies such as domestic control of the economy, labor, and capital formation, including if this requires the imposition of tariffs and other restrictions on the movement of labor, goods and capital. The core belief of economic nationalism is that the economy should serve nationalist goals. Economic nationalists oppose globalization or at least question the benefits of unrestricted free trade. They favor protectionism and advocate for self-sufficiency. To economic nationalists, markets are to be subordinate to the state, and should serve the interests of the state (such as providing national security and accumulating military power). The doctrine of mercantilism is a prominent variant of economic nationalism. Economic nationalists tend to see international trade as zero-sum, where the goal is to derive relative gains (as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hard Currency
In macroeconomics, hard currency, safe-haven currency, or strong currency is any globally traded currency that serves as a reliable and stable store of value. Factors contributing to a currency's ''hard'' status might include the stability and reliability of the respective state's legal and bureaucratic institutions, level of corruption, long-term stability of its purchasing power, the associated country's political and fiscal condition and outlook, and the policy posture of the issuing central bank. Safe haven currency is defined as a currency which behaves like a hedge for a reference portfolio of risky assets conditional on movements in global risk aversion. Conversely, a weak or soft currency is one which is expected to fluctuate erratically or depreciate against other currencies. Softness is typically the result of weak legal institutions and/or political or fiscal instability. History The paper currencies of some developed countries have earned recognition as hard curr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Tender
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt. Some jurisdictions allow contract law to overrule the status of legal tender, allowing (for example) merchants to specify that they will not accept cash payments. Coins and banknotes are usually defined as legal tender in many countries, but personal cheques, credit cards, and similar non-cash methods of payment are usually not. Some jurisdictions may include a specific foreign currency as legal tender, at times as its exclusive legal tender or concurrently with its domestic currency. Some jurisdictions may forbid or restrict payment made by other than ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sinking Fund
A sinking fund is a fund established by an economic entity by setting aside revenue over a period of time to fund a future capital expense, or repayment of a long-term debt. In North America and elsewhere where it is common for public and private corporations to raise funds through the issue of bonds, the term is normally used in this context. However, in the United Kingdom and elsewhere where the issue of bonds (other than government bonds) is unusual, and where long-term leasehold tenancies are common, the term is only normally used in the context of replacement or renewal of capital assets, particularly the common parts of buildings. Borrowing money by issuing a bond is referred to as floating a bond. Sinking is its opposite, repaying debt or acquiring capital assets without debt. Historical context The sinking fund was first used in Great Britain in the 18th century to reduce national debt. While used by Robert Walpole in 1716 and effectively in the 1720s and early 1730s, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Madison
James Madison Jr. (March 16, 1751June 28, 1836) was an American statesman, diplomat, and Founding Father. He served as the fourth president of the United States from 1809 to 1817. Madison is hailed as the "Father of the Constitution" for his pivotal role in drafting and promoting the Constitution of the United States and the Bill of Rights. Madison was born into a prominent slave-owning planter family in Virginia. He served as a member of the Virginia House of Delegates and the Continental Congress during and after the American Revolutionary War. Unsatisfied with the weak national government established by the Articles of Confederation, he helped organize the Constitutional Convention, which produced a new constitution. Madison's Virginia Plan was the basis for the Convention's deliberations, and he was an influential voice at the convention. He became one of the leaders in the movement to ratify the Constitution, and joined Alexander Hamilton and John Jay in writi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bills Of Credit
Bills of credit are documents similar to banknotes issued by a government that represent a government's indebtedness to the holder. They are typically designed to circulate as currency or currency substitutes. Bills of credit are mentioned in Article One, Section 10, Clause One (also known as the Contract Clause) of the United States Constitution, where their issuance by state governments is prohibited. History Use in the American Colonies (pre-1775) British colonies in North America would issue bills of credit in order to deal with fiscal crises, although doing so without receiving them as revenue in like amounts would increase the money supply, resulting in price inflation and a drop in value relative to the pound sterling. The documents would circulate as if they were currency, and colonial governments would accept them as payment for debts like taxes. They were not always considered legal tender for private debts. Colonial decisions on the issuance of bills of credit were ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IOUs
An IOU (abbreviated from the phrase "I owe you") is usually an informal document acknowledging debt. An IOU differs from a promissory note in that an IOU is not a negotiable instrument and does not specify repayment terms such as the time of repayment. IOUs usually specify the debtor, the amount owed, and sometimes the creditor. IOUs may be signed or carry distinguishing marks or designs to ensure authenticity. In some cases, IOUs may be redeemable for a specific product or service rather than a quantity of currency, constituting a form of scrip. California Registered Warrants Also referred to as "IOUs" by the U.S. state of California California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the most populous U.S. state and the 3rd largest by area. It is also the m ..., the term " Registered Warrants", which specify a future payment date, is meant to differentiat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treaty Of Ghent
The Treaty of Ghent () was the peace treaty that ended the War of 1812 between the United States and the United Kingdom. It took effect in February 1815. Both sides signed it on December 24, 1814, in the city of Ghent, United Netherlands (now in Belgium). The treaty restored relations between the two parties to ''status quo ante bellum'' by restoring the pre-war borders of June 1812. The treaty was approved by the British Parliament and signed into law by the Prince Regent (the future King George IV) on December 30, 1814. It took a month for news of the treaty to reach the United States, during which American forces under Andrew Jackson won the Battle of New Orleans on January 8, 1815. The treaty did not take effect until the U.S. Senate ratified it unanimously on February 16, 1815. U.S. President James Madison signed the treaty and exchanged final ratified copies with the British ambassador on February 17, 1815. The treaty began more than two centuries of mostly-peaceful relat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alexander Hamilton Portrait By John Trumbull 1806
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 ''Alakasandu'' or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
