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The Ideology, Structure, and Significance of the First American Fiscal Regime

The Ideology, Structure, and Significance of the First American Fiscal Regime

Chapter:
(p.222) Conclusion The Ideology, Structure, and Significance of the First American Fiscal Regime
Source:
A Hercules in the Cradle
Author(s):
Max M. Edling
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226181608.003.0008

The conclusion provides a broad sweep over the fiscal regime and public finance of the United States from the adoption of the Constitution to the outbreak of the Civil War. Supported by tables and graphs the conclusion charts the public debt, major long-term loans, government expenditure and revenue, per capita expenditure and revenue, tax revenue as share of GDP, the structure of federal government revenue, and customs duties as share of imports in the period 1789-1861. The conclusion also makes the case that the United States developed both a productive fiscal system and a well-managed public debt and that it used its fiscal and financial resources to establish itself as the predominant power on the North American continent.

Keywords:   federal government, fiscal system, government expenditure, government revenue, per capita revenue, public debt, United States

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