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The Founders and Finance : How Hamilton, Gallatin, and Other Immigrants Forged a New Economy

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Title: The Founders and Finance : How Hamilton, Gallatin, and Other Immigrants Forged a New Economy
Description: In 1776 the United States government started out on a shoestring and quickly went bankrupt fighting its War of Independence against Britain. At the war's end, the national government owed tremendous sums to foreign creditors and its own citizens. But lacking the power to tax, it had no means to repay them. The Founders and Finance is the first book to tell the story of how foreign-born financial specialists—immigrants—solved the fiscal crisis and set the United States on a path to long-term economic success.Pulitzer Prize–winning author Thomas K. McCraw analyzes the skills and worldliness of Alexander Hamilton (from the Danish Virgin Islands), Albert Gallatin (from the Republic of Geneva), and other immigrant founders who guided the nation to prosperity. Their expertise with liquid capital far exceeded that of native-born plantation owners Washington, Jefferson, and Madison, who well understood the management of land and slaves but had only a vague knowledge of financial instruments—currencies, stocks, and bonds. The very rootlessness of America's immigrant leaders gave them a better understanding of money, credit, and banks, and the way each could be made to serve the public good.The remarkable financial innovations designed by Hamilton, Gallatin, and other immigrants enabled the United States to control its debts, to pay for the Louisiana Purchase of 1803, and—barely—to fight the War of 1812, which preserved the nation's hard-won independence from Britain.
Authors: Thomas K. McCraw
Resource Type: eBook.
Subjects: Finance, Public--United States--History, Monetary policy--United States--History
Categories: HISTORY / United States / Revolutionary Period (1775-1800), BUSINESS & ECONOMICS / Economic History, HISTORY / United States / 19th Century
Database: eBook Collection (EBSCOhost)
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Header DbId: nlebk
DbLabel: eBook Collection (EBSCOhost)
An: 502713
RelevancyScore: 1044
AccessLevel: 6
PubType: eBook
PubTypeId: ebook
PreciseRelevancyScore: 1044.26904296875
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  Data: The Founders and Finance : How Hamilton, Gallatin, and Other Immigrants Forged a New Economy
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  Data: In 1776 the United States government started out on a shoestring and quickly went bankrupt fighting its War of Independence against Britain. At the war's end, the national government owed tremendous sums to foreign creditors and its own citizens. But lacking the power to tax, it had no means to repay them. The Founders and Finance is the first book to tell the story of how foreign-born financial specialists—immigrants—solved the fiscal crisis and set the United States on a path to long-term economic success.Pulitzer Prize–winning author Thomas K. McCraw analyzes the skills and worldliness of Alexander Hamilton (from the Danish Virgin Islands), Albert Gallatin (from the Republic of Geneva), and other immigrant founders who guided the nation to prosperity. Their expertise with liquid capital far exceeded that of native-born plantation owners Washington, Jefferson, and Madison, who well understood the management of land and slaves but had only a vague knowledge of financial instruments—currencies, stocks, and bonds. The very rootlessness of America's immigrant leaders gave them a better understanding of money, credit, and banks, and the way each could be made to serve the public good.The remarkable financial innovations designed by Hamilton, Gallatin, and other immigrants enabled the United States to control its debts, to pay for the Louisiana Purchase of 1803, and—barely—to fight the War of 1812, which preserved the nation's hard-won independence from Britain.
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RecordInfo BibRecord:
  BibEntity:
    Classifications:
      – Code: 330.97304
        Scheme: ddc
        Type: prePub
    Languages:
      – Code: eng
        Text: English
    Subjects:
      – SubjectFull: Finance, Public--United States--History
        Type: general
      – SubjectFull: Monetary policy--United States--History
        Type: general
    Titles:
      – TitleFull: The Founders and Finance : How Hamilton, Gallatin, and Other Immigrants Forged a New Economy
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          Name:
            NameFull: Thomas K. McCraw
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            NameFull: Thomas K. McCraw
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          Dates:
            – D: 01
              M: 01
              Type: published
              Y: 2012
            – D: 04
              M: 02
              Type: profile
              Y: 2014
          Identifiers:
            – Type: isbn-print
              Value: 9780674066922
            – Type: isbn-print
              Value: 9780674284104
            – Type: isbn-electronic
              Value: 9780674067660
            – Type: isbn-electronic
              Value: 9780674071353
          Titles:
            – TitleFull: The Founders and Finance : How Hamilton, Gallatin, and Other Immigrants Forged a New Economy
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