Report on Public Credit
E2168
The Report on Public Credit was Alexander Hamilton’s influential 1790 proposal outlining a comprehensive plan to stabilize the young United States’ finances by funding the national debt and assuming state debts.
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
economic policy proposal
→
government report → |
| aimedTo |
establish good creditworthiness for the United States
→
restore public credit → stabilize national finances → |
| author | Alexander Hamilton → |
| commissionedBy | United States Congress → |
| controversy |
benefits to speculators holding depreciated securities
→
debate over assumption of state debts → |
| country | United States of America → |
| datePresented | 1790-01-14 → |
| genre | financial report → |
| governmentBody | United States Department of the Treasury → |
| hasAuthorRole |
Alexander Hamilton
→
surface form: "Alexander Hamilton as Secretary of the Treasury"
|
| historicalPeriod | Early Republic of the United States → |
| influenced |
development of the U.S. financial system
→
establishment of federal authority over state finances → |
| language | English → |
| longTermImpact |
encouragement of investment in federal securities
→
strengthening of federal government credit → |
| negotiationAssociatedWith | Compromise of 1790 → |
| officeHeldByAuthor |
Secretary of the Treasury
→
surface form: "United States Secretary of the Treasury"
|
| opposedBy |
James Madison
→
Thomas Jefferson → |
| partOf | Hamiltonian economic program → |
| placeOfPresentation | New York City → |
| politicalContext | Washington administration → |
| presentedTo |
United States House of Representatives
→
surface form: "House of Representatives of the United States"
United States Congress → |
| proposedBy | Alexander Hamilton → |
| proposedPolicy |
assumption of state debts by the federal government
→
consolidation of federal and state debts → creation of a permanent national debt → establishment of a system of customs duties and excise taxes to service the debt → funding of the national debt at par → payment of interest on federal securities → redemption of Revolutionary War debt → |
| publicationYear | 1790 → |
| relatedWork |
Report on Manufactures
→
Report on a National Bank → |
| resultedIn |
Funding Act of 1790
→
surface form: "Assumption Act of 1790"
Funding Act of 1790 → |
| subject |
federal fiscal policy
→
public debt of the United States → state Revolutionary War debts → |
| supportedBy |
Federalists
→
surface form: "Federalist Party"
|
| timePeriodCovered | post–American Revolutionary War debt situation → |
Referenced by (3)
Full triples — surface form annotated when it differs from this entity's canonical label.