By Nancy Spannaus June 25, 2021—As the Whig Party geared up for the presidential elections of 1840, the United States was mired in a deep depression. While that depression had been brought on by the Jackson Administration’s dismantling of the Second Bank of the United States, there was not broad […]
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 […]
By Anton Chaitkin The following is an excerpt from a longer article, published in 2012, on the industrial progress of the United States which Andrew Jackson acted to destroy. It describes the collaboration between the Bank, state and local governments, the military, and President John Quincy Adams during his term […]
Jan. 31, 2018—In an op-ed published in the Washington Post on the eve of President Trump’s State of the Union address, Senate Democratic minority leader Chuck Schumer urged the President to propose “a substantial investment in our nation’s infrastructure.” Among the historical examples which he raised was none other than […]
Sept. 26, 2021—While Congress continues deadlocked in a battle over inadequate infrastructure spending bills, support is growing for establishing a Hamiltonian Infrastructure Bank. A campaign by local officials determined to meet the full needs of the nation is spreading across the country. The focus of their efforts is H.R. 3339 […]
By Nancy Spannaus Aug. 27, 2021—Come September, I will be teaching two classes at local colleges on “Why American Slavery Persisted.” They will be offered, for a fee, at both the Institute for Learning in Retirement at Frederick Community College in Maryland, and the Lifelong Learning Program at Shepherd University […]
A Brief History of the Principle of National Banking in the United States
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 […]