National Debt

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Issue:

Miscellaneous

 

Written by:

Bret G

 

Date added:

March 19, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

11 / 2801

 

Was viewed:

7854 times

 

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Essay content:

The time was some 70 years before the birth of Christ. Young Marcus Cicero, then a student of law and an eminent lawyer of this day, was just about to suffer his first great disillusionment with grasping government. Rome, by force of arms, guile and trickery, dominated the world. Its citizens had grown slick and fat, careless of their rights, and had fallen prey to the ruthless politicians who craved more and ever more power and riches...
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Within a week of the Battle of Bunker Hill in 1775, the Continental Congress, following colonial precedents, authorized an issue of $2 million of bills of credit, called Continentals, to finance the war. In January 1780, Alexander Hamilton, installed as the first Secretary of the Treasury, submitted his Report on the Public Credit to Congress and called for funding nearly all the government's obligations, including state debts, into long-term federal securities payable in specie or hard money...
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