Madisonian Economic Model
- Madisonian Economic Model
The Madisonian Economic Model was James Madison's plan for the repayment of domestic debts after the American Revolution.It was reffered to by Madison as "discrimination" and was proposed in opposition to Hamilton's First Report on the Public Credit.Besides placing an unfair burden of taxation on southern states (who had paid off their state debt), Madison feared the assumption plan cheated domestic creditors. After the American Revolution, veterans were granted securities as a promise to repay debt that the nation owed them. The nation was now ready to pay off this debt, and was willing to pay at par. Many original security holders, however, had sold their securities to speculators at a fraction of their worth. Madison thus proposed a plan that would honor the original holders' justice and the speculators' contracts.
"One of three things must be done; either pay both (the original holders and the speculators), reject wholly one or the other, or make a composition between them on some principle of equity."
[Founding Brothers by Joseph J. Ellis p.56] The Madisonian model favored this equity, but was rejected in favor of Hamilton's assumption plan.References
Wikimedia Foundation.
2010.
Look at other dictionaries:
First Report on the Public Credit — The First Report on Public Credit was the first of three major reports on economic policy issued by American Founding Father and first United States Treasury Secretary Alexander Hamilton on the request of Congress. The report analyzed the… … Wikipedia
List of eponymous adjectives in English — An eponymous adjective is an adjective which has been derived from the name of a person, real or fictional. Persons from whose name the adjectives have been derived are called eponyms.Following is a list of eponymous adjectives in English. A… … Wikipedia
History of American newspapers — The history of American newspapers goes back to the 17th century with the publication of the first colonial newspapers.Colonial period(This section is based on [http://www.bartleby.com/225/index.html#7 The Cambridge History of English and… … Wikipedia
Powers of the President of the United States — Powers of State= Because the United States is a presidential system, the President fulfils the roles of both chief of state and head of government. As chief of state, the President of the United States represents the nation at home and abroad. In … Wikipedia
Madison, Wisconsin — Infobox Settlement official name = City of Madison nickname = Mad Town or Mad City motto = imagesize = image caption = image mapsize = 250px map caption = Location of Madison in Dane County, Wisconsin subdivision type = Municipality subdivision… … Wikipedia
