Commentary

The Second National Bank of the United States

Yes, American Citizens Once Demanded a National Bank!

By Nancy Spannaus May 12, 2018—On April 23, 1834, a meeting of the “People of Mifflin County, Pa.” adopted the following resolution, which it sent on to the Congress of the United States: Resolved. . . . That the unwise and unlawful removal of the public deposits from the Bank […]

by May 12, 2018 Commentary, Infrastructure Bank
Monticello, a symbol of Jefferson's commitment to the plantation system.

Virginia’s Assault on the Marshall Court

by Edward Spannaus Third in the series “The Supreme Court Affirms the American System” May 3, 2018–Six weeks after his March 1819 monumental opinion in McCullough vs. Maryland, Chief Justice John Marshall, having returned to Richmond, wrote to Associate Justice Joseph Story: “Our opinion in the Bank case has aroused […]

by May 3, 2018 Commentary
Frances Perkins speaks with FDR.

Frances Perkins: A Role Model for Our Time

By Angela Vullo April 26, 2018–Frances Perkins was one of the driving forces behind Franklin Roosevelt’s historic presidency.  From her crucial role in FDR’s cabinet when he was Governor of New York, through all of his terms in the White House, Perkins was at his side, battling to bring forth […]

by April 26, 2018 Commentary
FDR visits with farmers in North Dakota in the 1936 campaign.

FDR’s 100 Days Put the Constitution Into Action

By Nancy Spannaus The following discussion of FDR’s 100 Days was written in May of 2013, and has been slightly edited for republication. FDR’s New Deal moved to reverse more than 30 years of subversion of the American System of economics, and restore the principles enshrined in the Preamble of […]

by April 25, 2018 Commentary, History
Franklin Roosevelt Addresses the Nation on Banking Crisis in March, 1933

FDR’s Hundred Days, 85th Anniversary: Profound Crises Require Real Leadership

Book Review by John Ascher   Nothing to Fear: FDR’s Inner Circle and the Hundred Days that Created Modern America, Adam Cohen Penguin Press, 2009, 372 pp.   April 21, 2018–Outstanding amongst the more recent portrayals of President Franklin Roosevelt’s “100 Days” is the account in Nothing to Fear, the […]

by April 21, 2018 Commentary, Glass-Steagall, History
President Adams appeared at the groundbreaking for the C & O Canal, shown here in 1910.

Creating Legal Infrastructure for a National Economy

Part II of The Supreme Court Affirms the American System by Edward Spannaus April 17, 2018–As we discussed in the first article in this series, John Marshall’s monumental ruling in McCullough vs. Maryland not only upheld the constitutionality of the National Bank, but it established in American law the principle that […]

by April 17, 2018 Commentary
Let the Debate on Hamiltonian Policies Begin!

Let the Debate on Hamiltonian Policies Begin!

Alexander Hamilton on Finance, Credit, and Debt Richard Sylla and David J. Cowen Columbia University Press, New York City, 2018, 345 pp. A review by Nancy Spannaus April 13, 2018—When co-author Richard Sylla presented this book at the National Archives on March 14, I immediately thought that his Alexander Hamilton […]

by April 15, 2018 Commentary
FDR signs the legislation creating the Tennessee Valley Authority (TVA)

FDR’s TVA Provides a Model for Development

By Nancy Spannaus April 10, 2018–If one had to pick one project initiated by President Franklin Delano Roosevelt (FDR) in his first 100 days which has had the most lasting success, the choice would clearly be the Tennessee Valley Authority (TVA). FDR announced his intention to procure legislation for the […]

by April 10, 2018 Commentary, News
West Virginia teachers during their 2018 strike.

Teachers Strike for the Common Good

April 8, 2018–The current wave of teachers’ strikes reflects a new wave of anti-Wall Street ferment with great potential. They are political strikes in the sense that the teachers are demanding changes in economic policy by their legislatures, which will not only improve their own living conditions, but those of […]

by April 9, 2018 Commentary, News
Alexander Hamilton's statue in Central Park, New York City.

National Banking Built the U.S. Industrial Giant

By Nancy Spannaus April 5, 2018–National banking in the United States built us into an industrial giant. It derives specifically from Alexander Hamilton’s concept of the First Bank of the United States, a partially government-owned credit institution devised to unify and build the young nation. The fact that most Americans […]

by April 5, 2018 Commentary, Infrastructure Bank