旋转门计划（Revolving door project）.doc

旋转门计划（Revolving door project） Revolving door project (2011-08-19, 00:19:52) Tags: on Classification: U.S. debt After the war of independence, total domestic and international debt amounted to $54 million, including the heavily depreciated $40 million continental currency and the $25 million in debt outstanding by the state governments. In 1789, the Treasury Secretary of the Washington government was Alexander Hamilton. Faced with the financial crisis, Hamilton has two measures, the first is the issue of new currency, gradually replace the devaluation of the mainland currency, and the second is the issue of federal bonds. Hamilton has created a revolving door effect: the Ministry of Finance issued new banknotes, to replace the old coins, at the same time, the new bill can only buy government bonds, so the old notes quickly out of the market, the new bill will soon return to the Ministry of finance. In less than 1 years, the government repaid 2/3s old debt with newly issued government bonds. That is, the issuance of forward bonds to solve the immediate problem of funds. ---------------------------------------------------------------------------------- - the following excerpt from the two way In April 30, 1789, the first president of the United States, Washington, was sworn in in the Federal Hall opposite the nyse. New York became a temporary capital. And this new country, from the day it was founded, was bankrupt. When the United States was first established, it fought many wars with britain. The troops in Washington needed their own money in the war, and sometimes they plundered the food from the peasants. Richard Hiller says. We borrowed a lot of money from France and Holland. Financial historian Gordon said. But they will write IOUs, and then turned into these bonds. Hiller says. In the war of independence, the federal and state governments left up to $54 million in debt, challenging the character and dignity of the new nation. Washington turned its attention to it