Democratic (constitutionalist) President Van Buren turns the presidency over to Whig (nationalist) former de facto senator William Henry Harrison (a resident of the federal enclave of Ohio). Van Buren is giving to Harrison a federal debt that has expanded from 340,000 to 5,400,000 Dollars, going from 0.02 to 0.3% of the Gross National Product, and from 2 to 30 Cents per person.
NOTE: The Union is still paying for the Panic of 1837, through lawful Indirect (impost and excise) taxes placed upon manufactured goods.
[added 2/20/2021]
Subsequent Events:
Authority:
Article II, Section 1 [Clause 8]
ccc-2point0.com/constitution-for-the-united-states
Article XII of Amendment
ccc-2point0.com/constitution-for-the-united-states
References:
Government – Historical Debt Outstanding – Annual 1790 – 1849
www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo1.htm
List of Presidents of the United states – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/List_of_Presidents_of_the_United_States
Measuring Worth – GDP result.
www.measuringworth.com/datasets/usgdp/result.php
Bureau of Economic Analysis is an agency of the U.S. Department of Commerce.
www.bea.gov/national/index.html#gdp
Leviathan on the Right (How Big-Government Conservatism Brought Down the Republican Revolution) | Strike-The-Root: A Journal Of Liberty
www.strike-the-root.com/71/lfb/lfb1.html
Uncle Sam’s flag of 37 stars, by Tom Caldwell and Jim Lorenz
ccc-2point0.com/uncle-sams-flag-of-37-stars
Current U.s. National Debt:
