Department of the Treasury

Why we hate the new money.

And how it grew, and grew, and grew…

The federal government was still in the process of establishing itself in 1792 and did not have a good year financially. Total income was only $3,670,000, or 88 cents per capita. Outlays were $5,080,000. The budget deficit therefore amounted to fully 38 percent of revenues. Read more >>
In 1937 the American economy, which had been slowly rising from the depths it had reached in 1933, suddenly reversed course and sank once more. Read more >>

At its roots lie fundamental tensions that have bedeviled American banking since the nation began

Bank failure is as American as apple pie. Read more >>

Two hundred years ago the United States was a weakling republic prostrate beneath a ruinous national debt. Then Alexander Hamilton worked the miracle of fiscal imagination that made America a healthy young economic giant. How did he do it?

One price of political greatness is to be forced to campaign even long after death. The Founding Fathers, particularly, have been constantly dragged from their graves for partisan purposes. Read more >>