The Power of the Purse: A History of American Public Finance, 1776-1790

The Power of the Purse: A History of American Public Finance, 1776-1790

The Power of the Purse: A History of American Public Finance, 1776-1790

The Power of the Purse: A History of American Public Finance, 1776-1790

Excerpt

This book is essentially history rather than economics. It grew out of general reading in contemporary sources. Public finance entered into every discussion of political or constitutional issues, but the significance of what I read was often obscure to me. When books on financial history were not enlightening, I was led to explore the subject in an effort to comprehend.

The work was begun under the direction of Professor Merrill Jensen of the University of Wisconsin, who has given me his valuable criticism and encouragement at every stage of the research and writing. I have gained much from intellectual communion with my colleague, Whitney Bates, who is an expert on Revolutionary finance and possibly the one person who will read these pages without feeling at any point that the meaning is obscure. In that critical hiatus likely to occur between research and scholarly publication, this book owes much to past and present members of the council and staff of the Institute of Early American History and Culture, particularly Lester J. Cappon, who had confidence in its ultimate merit. James Morton Smith and Frederick Hetzel greatly improved the . . .

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