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Product ID: 827 In stock ( 1)

North American Review. An Article on the Debts of the United States

AN ARTICLE ON THE DEBTS OF THE STATES. FROM THE NORTH AMERICAN REVIEW, FOR JANUARY, 1844.Curtis, Benjamin Robbins. G.F. Nesbitt, New York, 1844. 48pp. Original  Good+ to Very Good. Curtis, distinguished Massachusetts lawyer who was later appointed to the U.S. Supreme Court, traces the "extraordinary" growth in State debt during the 1830's. He cites influences of international trade, expanding American manufactures, consequent demand for more currency, the "war between the government of the United States and the Bank of the United States," and the "wild spirit of adventure" that overcame prudence and caution. Indeed, "prudence was generally considered little better than narrow-minded timidity." In fact, the Nation's exponential growth gave credence to boundless optimism. Sadly, this "unnatural state of things could not long continue." The bubble burst with the Panic of 1837

 

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