March 7, 2019—Rep. Shelly Willingham (D-Martin) introduced a “joint resolution urging Congress to enact without delay an “American Economic Recovery Program” into the North Carolina State Legislature on Feb. 17. House Joint Resolution 190 has five cosponsors and has been referred to the Banking Committee as the first step. The […]
By Nancy Spannaus March 1, 2019—The latest report on the U.S. infrastructure disaster by the National Association of Manufacturers (NAM) is a straightforward call for Congress and the President to act now. The “Build to Win” document begins by stating that “in an alarming state of disrepair and in urgent […]
By John Ascher Jan. 6, 2018–A group of Progressive Democrats this past week challenged Speaker Nancy Pelosi and the Democratic establishment on one issue which counts: their decision to reassert the House version of PAYGO. (Pay-as-you-go.) They lost the challenge, but have raised an important debate. The Progressives were […]
By Nancy Spannaus Dec. 5, 2018—Today’s anniversary of Alexander Hamilton’s most important report, the Report on Manufactures, comes at a particularly ironic time in our country’s history. On the one hand, the last year has seen a relative increase in real manufacturing jobs (allegedly the most since the mid-1990s), and […]
See how America can rebuild its collapsing infrastructure, on the vast scale required, founded upon historic precedents, and the bank will not create new debt!
(updated May 13, 2019) Nov. 3, 2018–Once the separation between commercial banking and speculation has been re-established, the problem of a supply of cheap, long-term credit for the physical economy is easily solvable. Given the enormous needs for infrastructure building and rebuilding, this will require Federal credit and Federal credit […]
Aug. 27, 2018–While Central Banks exist in many other countries, the United States is unique in its successful development of national banking. The purpose of National Banks, developed even before the ratification of the U.S. Constitution, was to marshal the financial resources of the young nation and direct them into […]
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 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 […]
September 19, 2020–I am pleased to announce that on September 23, I will challenge the myths about Alexander Hamilton in a lecture sponsored by the Treasury Historical Association (THA). My talk, addressed to the Treasury group via internet platform, will be based on my 2019 book Hamilton Versus Wall Street: […]
By Nancy Spannaus Aug. 20, 2020—Democrats looking for a comprehensive solution to the economic crisis that is threatening the very integrity of the United States as a nation, had a place to turn during the virtual Democratic National Convention this week. In a webinar featuring local union leaders, state representatives, […]
The Constitutionality of the National Bank
By Nancy Spannaus Feb. 27, 2019—February 25 was the anniversary of a momentous event in American history—George Washington’s signing of the bill establishing the Bank of the United States. This action was crucial to establishing a government-backed source of national credit and a uniform currency in the United States, and […]