John Steele Gordon
speaker
91 appearances
1 recordings
1 series
first heard Jun 2026
last heard 29 Jun
John Steele Gordon’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.
Appearances
And it was the first bank chartered in the United States.
The sale of the stock was the first initial public offering in the United States.
The uh and then of course in seventeen ninety one Hamilton established the Bank of the United States, which was a true central bank in every sense.
The Bank of England which was established in sixteen ninety four, was Britain's secret weapon in all those wars of the eighteenth century, mostly against France and Spain, and Austria and everybody else.
Because the Bank of England was able to they established
true modern national debt and Britain was able to raise money
quite low rates.
The French didn't have a central bank and so technically every time the government made a loan it was a personal loan to the King of France.
And kings of course are notorious on not paying their their debts.
And so France had to pay much higher.
Rates of interest.
And so it was the Bank of England as I said it was Britain's secret weapon because Britain was a smaller country than France in terms of population.
What Hamilton thought was that the Bank of England was a private bank.
It its shares were bought and sold on the market.
It was not a government institution up until well into the twentieth century.
And he thought that was vital to maintain discipline because
Governments have a very bad reputation for printing too much money.
We did that in during the American Revolution when the Congress was issuing what were called continentals and of course they just evaporated into worthlessness.
In fact, for a hundred years there was a phrase in the United States not worth a continental.
And so he thought that if they were with private ownership, then these people had a self interest in maintaining discipline.
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