Banks and State Public Finance in the New Republic: The United States, 1790–1860

1987 ◽  
Vol 47 (2) ◽  
pp. 391-403 ◽  
Author(s):  
Richard Sylla ◽  
John B. Legler ◽  
John J. Wallis
Keyword(s):  
United States ◽  
Public Finance ◽  
The United States ◽  
Major Elements ◽  
Relative Importance ◽  
Systematic Assessment ◽  
Paper Money ◽  
Tax Revenues ◽  
State Finance ◽  
The U.S

The U.S. Constitution, by taking away the power of the states to issue paper money, removed a major source of flexibility in state public finance. In their search for new sources of revenue and fiscal flexibility, the states discovered that the banks they chartered could fill the gap. Investment earnings and tax revenues derived from banks soon became major elements of state public finance. We discuss the nature of these early business-government relationships and provide the first systematic assessment of their relative importance in state finance.

scholarly journals Trends in Aggregate Concentration in the United States

2002 ◽  
Vol 16 (4) ◽  
pp. 137-160 ◽  
Author(s):  
Lawrence J White
Keyword(s):  
United States ◽  
The United States ◽  
Data Sets ◽  
Relative Importance ◽  
Gini Coefficients ◽  
Size Classes ◽  
Aggregate Concentration ◽  
Average Size ◽  
The U.S

I assemble two rarely used data sets to measure aggregate concentration in the U.S. in the 1980s and 1990s. Despite the merger waves of those decades, aggregate concentration declined in the 1980s and the early 1990s, but rose modestly in the late 1990s. The levels at the end of the decade were at or below the levels of the late 1980s or early 1990s. The average size of firm and the relative importance of larger size classes of firms increased, however. Gini coefficients for employment and payroll shares of companies showed moderate but steady increases from 1988 through 1999.

Tax reform initiated by D. Trump: Economic and social aspects

2021 ◽  
Vol 27 (3) ◽  
pp. 693-720
Author(s):  
Elena Yu. MAKUSHINA ◽  
Dar'ya M. KARMANOVA ◽  
Aleksei S. KUCHER
Keyword(s):  
United States ◽  
Policy Development ◽  
Tax Reform ◽  
The United States ◽  
Subsequent Increase ◽  
Tax Revenues ◽  
Long Run ◽  
Macroeconomic Indicators ◽  
The Impact ◽  
The U.S

Subject. The article addresses the tax reform of 2017, initiated by D. Trump. Objectives. The aim is to determine the relationship between the total volume of tax revenues to the budget of the U.S. Government and the growth of U.S. GDP in the long run. Methods. To identify the impact of the tax reform on the investment climate in the country and the subsequent GDP growth, we formulate a hypothesis and propose a regression model. The quarterly data from 04.01.1960 to 07.01.2019 serve as a statistical sampling, published by financial departments of the U.S. Office of Management and Budget and the U.S. Bureau of Economic Analysis. The study rests on the econometric analysis enabling to identify the impact of the volume of tax revenues from the corporate income tax and individual income taxes on the level of the GDP of the United States. Results. In the short term, we observe a decrease in tax revenues and a subsequent increase in the budget deficit, in the long term – an increase in business activity of the country, a growth in foreign direct investment, and, consequently, an increase in the GDP. The paper offers a model for assessing the economic growth of the GDP of the United States, in which tax predictors were used in combination with macroeconomic indicators. Conclusions. The experience of the United States and the results of this study may be used by the governments of developing countries and experts in the field of taxation for tax policy development.

Lawyers, Guns, and Public Moneys: The U.S. Treasury, World War I, and the Administration of the Modern Fiscal State

2010 ◽  
Vol 28 (1) ◽  
pp. 173-225 ◽  
Author(s):  
Ajay K. Mehrotra
Keyword(s):  
United States ◽  
Public Finance ◽  
Economic Development ◽  
World War I ◽  
Federal Government ◽  
The United States ◽  
World War ◽  
Excise Taxes ◽  
Modern Era ◽  
The U.S

World War I was a pivotal event for U.S. political and economic development, particularly in the realm of public finance. For it was during the war that the federal government ended its traditional reliance on regressive import duties and excise taxes as principal sources of revenue and began a modern era of fiscal governance, one based primarily on the direct and progressive taxation of personal and corporate income. The wartime tax regime, as the historian David M. Kennedy has observed, “occasioned a fiscal revolution in the United States.”

The Money War

Money ◽  
2017 ◽  
Author(s):  
John Kenneth Galbraith ◽  
James K. Galbraith
Keyword(s):  
United States ◽  
Central Bank ◽  
Federal Government ◽  
The United States ◽  
National Government ◽  
Early Years ◽  
Andrew Jackson ◽  
Paper Money ◽  
The Right ◽  
The U.S

This chapter examines the controversies surrounding money and banking in the early years of the new American Republic. It shows how the U.S. Constitution restricted the right of coinage to the federal government and forbade both the states and the national government to issue paper money. It then coinsiders the issuance of Treasury notes by Secretary of the Treasury Albert Gallatin in the 1812–1814 war, while Salmon P. Chase, Secretary of the Treasury under the Lincoln administration, asked Congress to authorize repeated issues of greenbacks. The chapter also considers Alexander Hamilton's application for a central bank that would become the Bank of the United States, which competed with other banks. Finally, it discusses the establishment of the Second Bank of the United States and the struggle between President Andrew Jackson and Nicholas Biddle, president of the Bank of the United States.

An American Language

2018 ◽  
Author(s):  
Rosina Lozano
Keyword(s):  
United States ◽  
National Policy ◽  
The United States ◽  
Spanish Language ◽  
Spanish Speakers ◽  
Language Recognition ◽  
Political Language ◽  
Political Issue ◽  
History Of ◽  
The U.S

An American Language is a political history of the Spanish language in the United States. The nation has always been multilingual and the Spanish language in particular has remained as an important political issue into the present. After the U.S.-Mexican War, the Spanish language became a language of politics as Spanish speakers in the U.S. Southwest used it to build territorial and state governments. In the twentieth century, Spanish became a political language where speakers and those opposed to its use clashed over what Spanish's presence in the United States meant. This book recovers this story by using evidence that includes Spanish language newspapers, letters, state and territorial session laws, and federal archives to profile the struggle and resilience of Spanish speakers who advocated for their language rights as U.S. citizens. Comparing Spanish as a language of politics and as a political language across the Southwest and noncontiguous territories provides an opportunity to measure shifts in allegiance to the nation and exposes differing forms of nationalism. Language concessions and continued use of Spanish is a measure of power. Official language recognition by federal or state officials validates Spanish speakers' claims to US citizenship. The long history of policies relating to language in the United States provides a way to measure how U.S. visions of itself have shifted due to continuous migration from Latin America. Spanish-speaking U.S. citizens are crucial arbiters of Spanish language politics and their successes have broader implications on national policy and our understanding of Americans.

Palestine Unbound

2018 ◽  
Vol 47 (3) ◽  
pp. 130-134
Keyword(s):  
United States ◽  
Human Rights ◽  
Task Force ◽  
The United States ◽  
Donald Trump ◽  
Tel Aviv ◽  
The Us ◽  
Intention To Move ◽  
Arab Israeli Conflict ◽  
The U.S

This section, updated regularly on the blog Palestine Square, covers popular conversations related to the Palestinians and the Arab-Israeli conflict during the quarter 16 November 2017 to 15 February 2018: #JerusalemIstheCapitalofPalestine went viral after U.S. president Donald Trump recognized Jerusalem as the capital of Israel and announced his intention to move the U.S. embassy there from Tel Aviv. The arrest of Palestinian teenager Ahed Tamimi for slapping an Israeli soldier also prompted a viral campaign under the hashtag #FreeAhed. A smaller campaign protested the exclusion of Palestinian human rights from the agenda of the annual Creating Change conference organized by the US-based National LGBTQ Task Force in Washington. And, UNRWA publicized its emergency funding appeal, following the decision of the United States to slash funding to the organization, with the hashtag #DignityIsPriceless.

The French Way

2011 ◽  
Author(s):  
Richard F. Kuisel
Keyword(s):  
United States ◽  
The United States ◽  
French Language ◽  
French Cinema ◽  
Free Markets ◽  
Technology Sector ◽  
Aids Epidemic ◽  
Political Reality ◽  
Politics And Culture ◽  
The U.S

There are over 1,000 McDonald's on French soil. Two Disney theme parks have opened near Paris in the last two decades. And American-inspired vocabulary such as “le weekend” has been absorbed into the French language. But as former French president Jacques Chirac put it: “The U.S. finds France unbearably pretentious. And we find the U.S. unbearably hegemonic.” Are the French fascinated or threatened by America? They Americanize yet are notorious for expressions of anti-Americanism. From McDonald's and Coca-Cola to free markets and foreign policy, this book looks closely at the conflicts and contradictions of France's relationship to American politics and culture. The book shows how the French have used America as both yardstick and foil to measure their own distinct national identity. France has charted its own path: it has welcomed America's products but rejected American policies; assailed Americ's “jungle capitalism” while liberalizing its own economy; attacked “Reaganomics” while defending French social security; and protected French cinema, television, food, and language even while ingesting American pop culture. The book examines France's role as an independent ally of the United States, but he also considers the country's failures in influencing the Reagan, Bush, and Clinton administrations. Whether investigating France's successful information technology sector or its spurning of American expertise during the AIDS epidemic, the book asks if this insistence on a French way represents a growing distance between Europe and the United States or a reaction to American globalization. Exploring cultural trends, values, public opinion, and political reality, this book delves into the complex relationship between two modern nations.

Latino Catholicism

2011 ◽  
Author(s):  
Timothy Matovina
Keyword(s):  
United States ◽  
Sixteenth Century ◽  
Catholic Church ◽  
Social Life ◽  
Social Issues ◽  
The United States ◽  
Societal Impact ◽  
Comprehensive Overview ◽  
Public Debates ◽  
The U.S

Most histories of Catholicism in the United States focus on the experience of Euro-American Catholics, whose views on social issues have dominated public debates. This book provides a comprehensive overview of the Latino Catholic experience in America from the sixteenth century to today, and offers the most in-depth examination to date of the important ways the U.S. Catholic Church, its evolving Latino majority, and American culture are mutually transforming one another. This book highlights the vital contributions of Latinos to American religious and social life, demonstrating in particular how their engagement with the U.S. cultural milieu is the most significant factor behind their ecclesial and societal impact.

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