HIST 2112 Lecture Notes - Lecture 18: Money Supply, Making Money
Document Summary
Now have a government for the usa. No one knows how the government/what the government should be/do. Alexander hamilton (ah) knew exactly what he wanted the government to do. Ah wanted to make the united states a modern capitalist country like england. Ah wants america to be really really powerful. Ah wants to build up a strong nancial backing. The us government has to show that it"s credit worthy. America borrowed tons of money they can"t pay back and they have to pay the soldiers too. Ah uses debt to establish that the us is credit worthy. 2 parts of the debt: ah packages debt into treasury bonds (,000 each) and sells them. Ah believes the people that matter are rich. Ah wants rich people to be invested in the us government. Ah wants rich people to have a stake in the government. 2. in order to be a reliable government, you have to be able to raise taxes.
