Relation To Hamilton's Other Economic Policies
In 1791, The first Bank of the United States was brought into being as one of the three major financial innovations proposed and supported by Hamilton, first Secretary of the Treasury. In addition to the national bank, the other two measures were establishment of a mint and imposition of a federal excise tax. Three goals of Hamilton's three measures were to:
- Establish financial order, clarity and precedence in and of the newly formed United States.
- Establish credit—both in country and overseas—for the new nation.
- To resolve the issue of the fiat currency, issued by the Continental Congress immediately prior to and during the United States Revolutionary War—the "Continental".
Read more about this topic: First Bank Of The United States
Famous quotes containing the words relation to, relation, hamilton, economic and/or policies:
“Any relation to the land, the habit of tilling it, or mining it, or even hunting on it, generates the feeling of patriotism. He who keeps shop on it, or he who merely uses it as a support to his desk and ledger, or to his manufactory, values it less.”
—Ralph Waldo Emerson (1803–1882)
“We shall never resolve the enigma of the relation between the negative foundations of greatness and that greatness itself.”
—Jean Baudrillard (b. 1929)
“Word’s gane to the kitchen,
And word’s gane to the ha’,
That Marie Hamilton gangs wi’ bairn
To the hichest Stewart of a’.”
—Unknown. Mary Hamilton (l. 1–4)
“The American suffrage movement has been, until very recently, altogether a parlor affair, absolutely detached from the economic needs of the people.”
—Emma Goldman (1869–1940)
“Give a scientist a problem and he will probably provide a solution; historians and sociologists, by contrast, can offer only opinions. Ask a dozen chemists the composition of an organic compound such as methane, and within a short time all twelve will have come up with the same solution of CH4. Ask, however, a dozen economists or sociologists to provide policies to reduce unemployment or the level of crime and twelve widely differing opinions are likely to be offered.”
—Derek Gjertsen, British scientist, author. Science and Philosophy: Past and Present, ch. 3, Penguin (1989)