During the early years of Washington’s Administration, Secretary of the Treasury, Alexander Hamilton, strive diligently to establish a sound system of banking in an effort to stabilize the currency of the nation. However, due to failure of Continental Currency and the lack of immediate convertibility into the proposed federal US dollar, speculation and volatility plagued […]

  South Sea Bubble originated plan was that of the English statesman Robert Harley, 1st Earl of Oxford. The scheme was a debt-for-equity swap in 1711, whereby the idea was to retire the floating national debt of Great Britain. Under the scheme, the debt was assumed by merchants to whom the government guaranteed for a […]

Trial of Lord William Russell (1639-83) Rye House Plot, name given to a conspiracy organized in 1683 by members of the Whig party in England for the assassination of King Charles II of England and his brother the duke of York, later James II, king of England. The victims were to be killed as they […]

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