Contact  |  About us

The Report on Public Credit

The Report on Public Credit was issued by Alexander Hamilton as a means to encourage order in the American economy for the benefit of commercial and industrial interests.

Specifically, Hamilton argued for full funding of the national debt (approximately $11 million) and assumption of state debts incurred during the War of Independence (approximately $40 million).

Some interest groups had recommended repudiation of the debt and others partial repudiation, but Hamilton argued that the young nation's good credit could be assured only by proper treatment of all creditors. The issue was especially critical in the South: State governments there had worked hard to begin paying off their obligations, but Hamiltonís plan pledged them to assist other states that had let their debts languish.

A compromise was finally achieved in which the South reluctantly accepted Hamiltonís financial plans in return for Northern support of the eventual establishment of a permanent capital on the Potomac. (This turned out to be a good deal for the North and a poor one for the South; the fact that the capital was located in a mosquito-infested swamp between Virginia and Maryland in the end meant little to the South over the years.)

Off-site search results for "The Report on Public Credit"...

Report on Public Credit - Alexander Hamilton Historical Society (AH= HS)
... has been stated, ["That an adequ= ate provision for the support of the Public Credit, is a matter of high import= ance to the honor and prosperity of the United States."] cannot but be applauded by all, who will seriously consider, and trace ... ...

NPS Publications: Preliminary Report on the Ethnography of the Southwest
... Field Division of Education Berkeley, California 1935 History | Links to the Past | National Park Service | Search | Contact Last Modified: Tuesday, Feb 21 2006 10:00:00 am PDT ...

Report from the Meeting of Experts on Digital Preservation
... Experts on Digital Preservation: Digital Preservation Masters REVISED: Report on the Meeting of Experts on Digital Preservation: Digital Preservation Masters. June 18, 2004 (PDF 91 KB) (2nd version, with revisions) GPO is working with the ...

privacy policy