A Report On Public Credit Essay

A Report On Public Credit Essay

Length: 1145 words (3.3 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

In his First Report on Public Credit, Alexander Hamilton discusses the current financial situation of the United States and, as a response, proposes a plan to take care of the debt accrued from the Revolutionary War. Hamilton 's address tells the story of a significantly indebted newfound nation in desperate need of financial reorganization. He first discusses the strain that could be placed on public credit from public engagements and that the expensive engagement of war against Britain was the price to pay for liberty. Subsequently, he delivers his plan, which focused on the full payment of foreign loans, redemption of bonds (which would create new debt, but nonetheless establish good federal credit), and the assumption of individual state debt into federal debt. He also proposed that tariffs, or taxation on goods, be increased, and that an excise tax on liquor be established. While Hamilton 's report was generally comprehensive, the section on assumption seemed to lack detail. For instance, several states had outstanding debts from war, while others had already paid theirs in full. It is surprising that Hamilton did not mention this in his report, discussing how exactly his plan for assumption would be implemented while taking into account the different debts of each state.
On the other hand, Thomas Jefferson 's account discusses his observation of the Federalists following his entrance in the office of the Secretary of State in 1970. In whole, Jefferson 's text could be taken not only for a document to discuss what had taken place when he met with the President, politicians such as Hamilton and Adams, and citizens over dinner parties, but essentially for a journal entry filled with bitterness against Madison and his proposa...

... middle of paper ...

...printed money (Continentals) was now worth very little. Therefore, when analyzing Hamilton 's plan, I had to take into consideration just how hard of a hit the economy took.
When it comes to Jefferson 's document, I was reminded of the political propaganda that candidates use to disrepute their opponents. Currently, the public is exposed to these advertisements constantly, given the upcoming election. It is clear through this writing that Jefferson despises Hamilton, yet it is questionable as to whether his statements are overemphasized similarly to those of politicians today. When first reading this, I interpreted it as an angry, yet private, response to events that occurred shortly before. However, when I learned that these documents were published in his autobiography, I began to interpret this document more as a method of exposing Hamilton and the Federalists.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

History of the Use of Credit Cards Essay

- ... One if you are living at home with your parents, they can co-sign on a student loan, put a house bill in your name, such as the power bill or water bill. If your parents’ credit score is high according to Fair, Isaac, and Company (FICO), you can consider them to assist you with a credit card in your name but using their account. Show responsibility by opening a checking or savings account, maintaining a consistent balance. Appling for department store credit cards like JC Penny, Sears, and Kohl’s is a great way to start....   [tags: credit card reporting angency, limits]

Better Essays
1671 words (4.8 pages)

Marketing Plan For Hsbc Credit Cards Essay

- Marketing Plan HSBC Credit cards Prepared BY- Deepali Rastogi(4511871) Saranjeet Kaur(4518761) Sujay Kanungoe(4519120)   A Brief Marketing Plan on HSBC Credit Cards Executive Summary :-This essay contains the marketing plan on HSBC credit cards in UK that can be developed annually or even for a term of 5 years depending upon the people involved and the vision of company. It will also explain on how to change the current scenario and taking the company into a positive growth. Introduction::-Hong Kong and Shanghai banking cooperation abbreviated as HSBC has been founded in 1865....   [tags: Marketing, Bank, Credit card, United Kingdom]

Better Essays
2403 words (6.9 pages)

A Brief Note On The Best Self Help Tips For Credit Repair Essay

- If you are having problems with your credit there are steps you can take to improve it on your own for free. This is better than using a credit repair agency that may charge you. Use the tips in this article to get on your way to repairing your credit. One of the best self-help tips for credit repair is to become pro-active as soon as you realize that your money is just not going to spread far enough to cover all of your monthly bills. You should immediately contact creditors at the first sign that you are not going to be able to make ends meet....   [tags: Credit card, Money]

Better Essays
733 words (2.1 pages)

How Personal Credit Affects Small Business Borrowing Essay

- How personal credit affects small business borrowing Unlike the CEOs of major public company whose personal financial situation has little effect on their companies’ borrowing, if you are a small business owner, your personal credit is a major factor influencing your company’s access to capital. The power of personal credit scores to predict small business loan repayment, the legal structure of many small businesses, and small business owners’ use of personal guarantees and personal borrowing to finance business operations all link small business owners’ personal credit to their companies’ access to capital....   [tags: public company, financial situations]

Better Essays
519 words (1.5 pages)

Essay on Public Relations Professionals Are Strategic Communicators

- Public relations professionals are strategic communicators. These professionals are often tasked with everything under the sun such as, managing the consumer and stakeholder’s perception of the company, writing press releases, manage a crisis situation, plan events, and work with the media. Within this field of work, there are various job titles with different job descriptions. The public relations panel provided a glimpse into the public relations world and provided useful information for entering the field....   [tags: Public relations, Marketing, Public, Mass media]

Better Essays
1236 words (3.5 pages)

Credit Rating Industry in India Essay

- The Credit Rating Agencies are regulated by mainly SEBI and RBI policies. In fact SEBI through The Securities and Exchange Board of India ( Credit Rating Agencies) Regulations, 1999 was one of the first regulators globally to devise an effective and comprehensive regulatory framework for CRAs SEBI regulation for CRAs has been designed to ensure the following: - Only credible players enter and exist in the business -The regulations are devised in such a way that fair and objective opinions are given by the CRAs -Investors have widespread access to ratings - The applicant should be registered as a company under the Companies Act, 1956 and possess a minimum network of Rs.5 crore....   [tags: Agencies, Debt, Investments]

Better Essays
2118 words (6.1 pages)

The Federalist Papers and The Hamilton Report

- First I would like to welcome you to the wonderful land of America. I hope you have had fair travels from London. As I understand the situation, you are in a state of ambivalence in regards to your political affiliations; I write to you today to help you see the strength in the Federalist Party. The Federalist Party has the potential to continue aiding America in taking lengthy strides toward being a great nation. I will debrief you on the successes the Federalist Party has participated in thus far; the Federalist Papers and the Hamilton Reports....   [tags: ratification of the constitution]

Better Essays
1404 words (4 pages)

Why Do Companies Request Credit Reports? Essay

- Why do some companies request credit reports. Many businesses are requesting credit report authorizations from their applicants as part of their screening process for employment. According to the Federal Fair Credit Reporting Act (FCRA), the applicant must give the employer authorization in order for the employer to receive a copy of the credit report. (Rosen, 2000). Credit reports are requested by some companies to review and verify information regarding the applicant such as one’s identity, the amount of debt and also to help them to determine if one is qualified for the job....   [tags: Personal Finance]

Better Essays
840 words (2.4 pages)

My Personal Statement For College Credit Essay

- After I arrived home from soccer practice, the phone rang. “El Camino,” my mother said as she handed it to me, referring to a nearby community college. I was taking engineering courses there, offered in conjunction with my high school, but the woman from the registrar’s office had a problem: The Social Security number I had provided to receive college credit did not match my name, and if I couldn’t provide a valid number, I’d have to pay almost $2,000 for the classes I’d taken. Why, I asked my parents, had my Social Security number been rejected....   [tags: College, High school, Ivy League, Education]

Better Essays
1371 words (3.9 pages)

Global Credit Availability Essay

- Global Credit Availability: In today’s world of personal finance and economics, with the global perspective being the primary focus. Corporations, just like individuals, are looking at expanding their horizons and saving or making as much profit as they can. How do they accomplish this gigantic and often expensive proposition. The answer to this is through credit. However I poise a question to everyone. Is the ease of which to receive credit today a hindrance and detriment to all of us, or is it the answer we have all been looking for....   [tags: essays research papers fc]

Better Essays
1655 words (4.7 pages)