Waging war and guaranteeing defense Very good book and recommended for anyone studying the Birth of the modern Fiscal and Debt States. N public finance and power a well managed public debt was a ey part of every modern state Creating a debt would always be a delicate and contentious matter in the American context however and statesmen of all persuasions tried to pay down the national debt in times of peace A Hercules in the Cradle explores the origin and evolution of American public finance and shows how the nation’s rise to great power status in the nineteenth century rested on its ability to go into deb.
A fantastic read about the Fiscal Policies and the Debt strategies of the United States from its Constitution until the Civil War Ver. Two and a half centuries after the American Revolution the United States stands as one of the greatest powers on earth and the undoubted leader of the western hemisphere This stupendous evolution was far from a foregone conclusion at independence The conuest of the North American continent reuired violence suffering and bloodshed It also reuired the creation of a national government strong enough to go to war against and acuire territory from its North American rivals In A Her.
Y interesting to see how the Financial System of the country like others also rose and was created first and foremost by the needs of. Cules in the Cradle Max M Edling argues that the federal government’s abilities to tax and to borrow money developed in the early years of the republic were critical to the young nation’s ability to wage war and expand its territory He traces the growth of this capacity from the time of the founding to the aftermath of the Civil War including the funding of the War of 1812 and the Mexican War Edling maintains that the Founding Fathers clearly understood the connection betwee.