The Financial History of the United States, from 1774 to 1789

This work provides an in-depth exploration of the fiscal mechanisms and challenges faced during the formative years of the United States, particularly through the Revolutionary period. Bolles outlines the evolution of financial governance from the first Continental Congress in 1774 to the conclusion of the Confederation period in 1789. The narrative focuses on the establishment and administration of financial structures, including the organization of the Treasury Department, the issuance of Continental currency, and the management of state and federal fiscal responsibilities. The book also critically examines the complexities of early economic decisions, such as the reliance on paper money, the struggles with counterfeiting, and the challenges of limited resources and credit. Additionally, Bolles highlights the impact of prominent figures like Robert Morris and Alexander Hamilton, who were pivotal in shaping the nation's financial policies. He delves into the debates, successes, and failures of Congress in addressing fiscal crises and the lessons learned from these experiments in governance. The work serves as a meticulous historical account and analysis, aiming to uncover the causes and consequences of financial decisions during the Revolution, while offering insight into the foundational economic principles that influenced the development of the United States.