MONEY TALKS: A SHORT HISTORY
OF CAMPAIGN SPENDING,
REGULATION, AND REFORM
To place modern issues of campaign finance in perspective, it is helpful to review, even briefly, the history of campaign finance and efforts to regulate political contributions and spending. In fact, casual observers are often shocked to discover that the regulation of political contributions and expenditures is a relatively recent phenomenon, even though the concerns that have led to such regulation have a long pedigree in American political life.
In the colonial period and the early years of the Republic, campaign finance was not an issue. The