Alexander Hamilton: “First Report on Public Credit”

Glossary

• capital material wealth intended to be used for the production of more wealth
• in the order of Providence in the grand scheme of things
• interest of money … always in a ratio to the quantity … and quickness reference to the fact that the more money there is available and the more freely it is released by lending institutions, the lower will be the rate of interest on it
• the last seven years since the end of the Revolutionary War
• negative violation, or non-compliance failure to abide by a law through negligence or inaction, as opposed to actively undertaking to commit a crime
• primitive original
• public credit the confidence of the public in the basic financial soundness of its government
• s. abbreviation for shillings, a unit of English currency
• security a claim of partial ownership in a financial entity through stocks, bonds, or other instruments
• specie currency in the form of coins
• stock term used in a general sense to mean "units of value"
• unfunded debt short-term debt, or debt that is to be paid within a year