Comment: History in the words of those who made it.

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History in the words of those who made it.

http://www.amazon.com/Reclaiming-American-Revolution-Kentuck...

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But Hamilton wanted to go farther than debt assumption. He believed a funded national debt would assist in establishing public credit. By funding national debt, Hamilton envisioned the Congress setting aside a portion of tax revenues to pay each year's interest without an annual appropriation. Redemption of the principal would be left to the government's discretion. At the time Hamilton gave his Report on Public Credit, the national debt was $80 million. Though such a large figure shocked many Republicans who saw debt as a menace to be avoided, Hamilton perceived debt's benefits. "In countries in which the national debt is properly funded, and the object of established confidence," explained Hamilton, "it assumes most of the purposes of money." Federal stock would be issued in exchange for state and national debt certificates, with interest on the stock running about 4.5 percent. To Republicans the debt proposals were heresy. The farmers and planters of the South, who were predominantly Republican, owed enormous sums to British creditors and thus had firsthand knowledge of the misery wrought by debt. Debt, as Hamilton himself noted, must be paid or credit is ruined. High levels of taxation, Republicans prognosticated, would be necessary just to pay the interest on the perpetual debt. Believing that this tax burden would fall on the yeoman farmers and eventually rise to European levels, Republicans opposed Hamilton's debt program.

To help pay the interest on the debt, Hamilton convinced the Congress to pass an excise on whiskey. In Federalist N. 12, Hamilton noted that because "[t]he genius of the people will ill brook the inquisitive and peremptory spirit of excise law," such taxes would be little used by the national government. In power, the Secretary of the Treasury soon changed his mind and the tax on the production of whiskey rankled Americans living on the frontier. Cash was scarce in the West and the Frontiersmen used whiskey as an item of barter.
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Many stupid people are out there wondering what meaning there is in text. Who cares?

Right?

Hamilton was one of the so called Federalists.

They wanted POWER.

The got it.

The story isn't that difficult to understand.

Criminals want power, but there is this nagging problem with crime.

The victims don't like it.

So the victims figure out ways to defend against it.

So the criminals figured out how to fool the victims into thinking that the criminals are their only, one and only, hope in defense against guess who?

Trolls?

Joe