Hamilton's Report on Public Credit
1790Turning point
Treasury Secretary Alexander Hamilton proposes paying war debts at face value and having the federal government assume state debts. Congress agrees, giving the United States sound credit.
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Longest chain: The Big Bang → First stars ignite → Supernovae seed heavy elements → The Sun forms → Earth forms → First oceans → First life → Photosynthesis evolves → Great Oxidation Event → Complex cells (eukaryotes) → Multicellular life → First animals → Cambrian Explosion → First vertebrates → Jawed fish → Fish walk onto land → The amniotic egg → The Great Dying → Dinosaurs appear → Asteroid ends the dinosaurs → Early primates → Apes split from monkeys → Human line splits from chimpanzees → Walking upright → First stone tools → Genus Homo appears → Homo erectus → Control of fire → Habitual fire and cooking → Homo sapiens appears → Complex language → Natufian villages → Oldest known bread → Agriculture begins → Irrigation → Uruk and the first cities → Cylinder seals → Writing (cuneiform) → Babylonian mathematics → Babylonian astronomical diaries → Thales and natural philosophy → Trial and death of Socrates → Plato's Academy → Aristotle's Lyceum → Alexander's conquests → Death of Alexander and the Hellenistic kingdoms → Seleucid Empire founded → Parthian Empire founded → Sasanian Empire → Birth of Muhammad → Muhammad's first revelations → The Hijra → Conquest of Mecca → Death of Muhammad and the Rashidun caliphate → Arab conquests → Abbasid Caliphate → Battle of Talas → Paper reaches the Islamic world → House of Wisdom → Al-Khwarizmi and algebra → Fibonacci's Liber Abaci → Bills of exchange → Medici Bank → Double-entry bookkeeping → Muscovy Company → English East India Company → Seven Years' War → Stamp Act → Boston Tea Party → American Revolution → Declaration of Independence → Articles of Confederation ratified → Shays' Rebellion → U.S. Constitution → The Federalist Papers → U.S. Constitution ratified → Washington inaugurated as first president → Hamilton's Report on Public Credit
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