James W Cummings

Towards Modern Public Finance

Notify me when the book’s added
To read this book, upload an EPUB or FB2 file to Bookmate. How do I upload a book?
This is the first in-depth study to address the financing of the American-Mexican War of 1846–48. Floating the Mexican War loans was the greatest single endeavour of the American financial community during the 1840s. Under President Polk, the Treasury issued three loans totalling $49 000 000. Investment bankers enthusiastically marketed these treasury notes and bonds directly to the international investing public. Cummings argues that the successful financing of the American-Mexican War had a long-term beneficial effect on American financial institutions and markets. At home, the stability of the Independent Treasury was assured, and abroad, America's international credit standing was restored. Most importantly, the dealing of government issue by investment bankers was a decisive step towards modern public finance.
This book is currently unavailable
398 printed pages



    How did you like the book?

    Sign in or Register
Drag & drop your files (not more than 5 at once)