The Public Debt of the United States

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Hamilton learned from Morris and ran with in order to fight the war. The big piece of the debt was domestic debt, which simply meant issuing bonds bearing 6% no tax interest. It was a risky investment, but they made it very sweet and they got investors,. Most many of whom were Morris's personal friends and part of his personal circle.

Astra Taylor interviews William Hogeland on his book Founding Finance: How Debt, Speculation, Foreclosures, Protests, and Crackdowns Made Us a Nation. Hogeland recovers a fascinating crop of mostly-forgotten rebels, the movements they led, and their radical demands that put the landlords and lenders of their day on edge. He also recounts the complex and sometimes deadly machinations that went into suppressing them in order to create a nation that was safe for the owning and investing classes. Support The Dig at Patreon.com/TheDig