Published online by Cambridge University Press: 14 March 2017
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40. For more on the link between Whigs and the Bank of England, including instances of political corruption, see Linda Colley, In Defiance of Oligarchy: The Tory Party, 1714–60 (Cambridge, 1982), 15; Holmes, Age of Anne, 164, 172–74; Holmes, Making of a Great Power, 289–90; Harris, Politics Under the Late Stuarts, 198.
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42. Bolingbroke, Dissertation, 266, 300; Bolingbroke, Study and Use of History, 39; Bolingbroke, Present State of the Nation, 4:359; Henry St John, Viscount Bolingbroke, to Sir William Windham, 1717, in Works of Bolingbroke, 1:13. For more on Bolingbroke, see Speck, Stability and Strife, 221–23; Holmes, Age of Anne, 176–77.
43. For more on British nationalism in the eighteenth century, see Linda Colley, Britons: Forging the Nation, 1707–1837, 2nd ed. (1992; New Haven, 2008); David Armitage, The Ideological Origins of the British Empire (Cambridge, 2000). For more on defenses of the ruling British Court establishment, see Plumb, J. H., The Growth of Political Stability in England, 1675–1725 (1967; repr., London, 1979)Google Scholar; Pocock, Machiavellian Moment, 459–60, 487, 525; Dickinson, Liberty and Property, 95, 100, 125–40, 154–62; Speck, Stability and Strife, 22–23, 164, 228–29; Jones, Country and Court, 42; Holmes and Szechi, Age of Oligarchy, 28.
44. Hume, Essays, 294; [Robert Wallace], Characteristics of the Present Political State of Great Britain, 2nd ed. (London, 1758), 6, 95.
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46. Montgomerie, Consequences of the Public Debt, 4–5; Montesquieu, Spirit of Laws, 1:394; Sir James Steuart, An Inquiry into the Principles of Political Economy, 2 vols. (London, 1767), 2:443.
47. Cawthorne, Plan to Reconcile, 10; Alexander Hamilton to Robert Morris, 30 April 1781, in The Works of Alexander Hamilton, ed. Henry Cabot Lodge, 12 vols. (New York, 1904), 3:362; Alexander Hamilton, Report on Manufactures: Communication to the House of Representatives (1791); Robert Morris to John Hanson, 29 July 1782, in The Papers of Robert Morris, 1781–1784, ed. E. James Ferguson and John Catanzariti, 9 vols. (Pittsburgh, 1973–99), 6:59. See also E. James Ferguson, The Power of the Purse: A History of American Public Finance, 1776–1790 (Chapel Hill, 1961), 114–24; McCoy, Elusive Republic, 96, 110, 114–19, 132–34, 149, 165.
48. Thomas Jefferson to James Madison, 20 December 1787, in The Papers of Thomas Jefferson Digital Edition, ed. Barbara B. Oberg and J. Jefferson Looney (Charlottesville, 2008–15); Jefferson, Notes on the State of Virginia, 274–75, 290; Price, Observations, 77–78.
49. McCoy, Elusive Republic, 63–64, 121, 129, 227–31, 248; Wood, Radicalism of the American Revolution, 314.
50. Thomas Jefferson to Governor James Jay, 7 April 1809, in The Writings of Thomas Jefferson, ed. H. A. Washington, 9 vols. (Washington, D.C., 1853–54), 12:271.
51. For more on the republican vision for an agricultural America, see McCoy, Elusive Republic, 13–14, 19–20, 40, 66–68, 78–80, 84, 121, 189, 237; Charles Sellers, The Market Revolution: Jacksonian America, 1815–1846 (New York, 1991), 35–39; Colbourn, Lamp of Experience, 158–84; Pocock, Machiavellian Moment, 506–7, 514–15, 534–39; Daniel Vickers, “Competency and Competition: Economic Culture in Early America,” William and Mary Quarterly, 3rd ser., 47, no. 1 (January 1990): 3–29.
52. Montgomerie, Consequences of the Public Debt, 30; Smith, Lectures on Justice, 191; Wallace, Present Political State, 15. For more on eighteenth-century British support for the Financial Revolution, see Hoppit, “Attitudes to Credit,” 314–19; Berry, Idea of a Commercial Society, 99–100; Pocock, Machiavellian Moment, 456–60; Dickinson, Liberty and Property, 85–86, 150–51.
53. Hume, Essays, 301; James Sullivan, The Path to Riches: An Inquiry into the Origin and Use of Money; and into the Principles of Stocks & Banks (1792; repr., Boston, 1809), 10; James Madison to Thomas Jefferson, 10 July 1791, in The Writings of James Madison, ed. Gaillard Hunt, vol. 6 (New York, 1906), 55; The Mail (Philadelphia), 29 May 1792; The Pennsylvania Mercury and Universal Advertiser (Philadelphia), 21 July 1786.
54. Noah Webster, “Remarks on the Manners, Government, and Debt of the United States,” 1787, in Noah Webster, A Collection of Essays and Fugitiv Writings on Moral, Historical, Political and Literary Subjects (Boston, 1790), 106–7, 160; Webster, “Principles of Government and Commerce,” 1788, in Webster, Collection of Essays, 42; Sullivan, Path to Riches, preface, 24, 31–32, 43. For more on early national anxiety over the influence of speculative finance in America, see McCoy, Elusive Republic, 153–54, 166–67, 172, 183, 186; Pocock, Machiavellian Moment, 528–31.
55. Speech of Congressman James Jackson (Ga.), repr. in The General Advertiser and Political, Commercial, Agricultural and Literary Journal (Philadelphia), 5 February 1791; Speech of Congressman William Findley (Pa.), repr. in The Gazette of the United States (Philadelphia), 23 November 1791; The Federal Gazette and Philadelphia Evening Post, 1 April 1791.
56. National Gazette (Philadelphia), 24 May 1792; Gazette of the United States (Philadelphia), 11 September 1792; The Daily Advertiser (New York), 3 April 1792; Federal Gazette & Philadelphia Evening Post, 21 August 1792; Massachusetts Spy, 8 March 1792; National Gazette (Philadelphia), 17 and 31 May 1792.
57. Thomas Jefferson to Van Staphorst & Hubbard, 27 March 1797, in Papers of Jefferson Digital Edition; Thomas Jefferson, “The Anas,” in Works of Jefferson, 1:196; Thomas Jefferson to Albert Gallatin, 13 December 1803, in Writings of Jefferson, 4:519–20; Thomas Jefferson to William B. Giles, 26 December 1825, in Writings of Jefferson, 7:106; Thomas Jefferson to John W. Eppes, 6 November 1813, in Writings of Jefferson, 6:246.
58. Circular Letter of Congressman Thomas Harris (TN) to Constituents, 15 Apr. 1814, in Circular Letters, 2:884–5; House Debate on the National Banking Bill, 29 Feb. 1816, in Legislative and Documentary History of the Bank of the United States: Including the Original Bank of North America, ed. M. St. Clair Clarke and D. A. Hall (Washington, D.C., 1832), 658; The Aurora (Philadelphia), 7 February 1810; Cobbett’s Political Register, 13 January 1816; Niles Weekly Register (Philadelphia), 28 February 1818; The Aurora (Philadelphia), 5 March 1816 and 31 July 1817.
59. John Adams to F. A. Vanderkemp, 16 February 1809, in The Works of John Adams, Second President of the United States, ed. Charles Francis Adams, 10 vols. (Boston, 1850–56), 9:610; Benjamin Rush to Thomas Jefferson, 1 February 1811, in The Papers of Thomas Jefferson: Retirement Series, ed. J. Jefferson Looney, 10 vols. (Princeton, 2004–13), 3:357; John Adams to Benjamin Rush, 28 August 1811, in Works of Adams, 9:638; John Adams to John Taylor, of Caroline, 12 March 1819, in Works of Adams, 10:375.
60. Thomas Jefferson to John Taylor, 28 May 1816, in Writings of Jefferson, 6:605, 608.
61. The Aurora (Philadelphia), 15 February 1814.
62. Timberlake, Richard, Monetary Policy in the United States: An Intellectual and Institutional History (Chicago, 1978)Google Scholar, 16; Howard Bodenhorn, A History of Banking in Antebellum America: Financial Markets and Economic Development in an Era of Nation-Building (Cambridge, 2000), 7–9.
63. Wood, Radicalism of the American Revolution, 321.
64. Ibid., 229–30, 307–39, 358–59; McCoy, Elusive Republic, 238; Joyce Appleby, Inheriting the Revolution: The First Generation of Americans (Cambridge, Mass., 2000), 88–89.
65. The Aurora (Philadelphia), 30 April 1816.
66. Committee of the New York legislature, 1818, cited in William Gouge, A Short History of Paper Money and Banking in the United States (Philadelphia, 1833), 5.
67. Bray Hammond, Banks and Politics in America: From the Revolution to the Civil War (Princeton, 1957), 328–68; Arthur Schlesinger, The Age of Jackson (Boston, 1945), 74–127.
68. Evening Post (New York), 30 January 1835; The American Beacon and Commercial Diary (Norfolk), 9 January 1816; [Benjamin Franklin Butler], Remarks on Private Banking (Albany, 1818), 15–16; Philadelphia Workingmen’s Committee, 25 March 1829, repr. in The Free Trade Advocate, and Journal of Political Economy (Philadelphia), 16 May 1829.
69. Philadelphia Workingmen’s Committee, 25 March 1829, repr. in The Free Trade Advocate, and Journal of Political Economy (Philadelphia), 16 May 1829; Workingman’s Advocate (New York), 18 December 1830; Hildreth, History of Banks, 131; Plaindealer (New York), 20 May 1837.
70. Evening Post (New York), 30 January 1835.