Chapter XVI

1036 Words

Congress reassembled, and on the 2d of January Hamilton sent in his Report on Public Credit. By this time excitement and anxiety, to say nothing of cupidity, were risen to fever pitch. All realized that they were well in the midst of a national crisis, for the country was bankrupt, and her foreign and domestic debts footed up to quite eighty millions of dollars--a stupendous sum in the infancy of a nation, when there was little specie in the country, and an incalculable amount of worthless paper, with long arrears of interest besides. If Hamilton could cope with this great question, and if Congress, with its determined anti-government party, would support him, the Union and its long-suffering patriots would enter upon a season of prosperity and happiness. If the one were inadequate to meet

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