Alexander Hamilton, Secretary of the Treasury, submits his Third Report on the Public Credit to the House of Representatives, proposing that Congress broadly interpret the General Welfare Clause (Article I, Section 8 [Clause 1]) to allow protective tariffs, subsidization of domestic industries and unlimited federal powers.
[restored 10/17/2021]
Subsequent Events:
References:
“Chronology of Events, 1774-1804,” from The Debate on the Constitution, two volumes, Bernard Bailyn, ed., (New York: Library of America, 1992), 2:1075.
Current U.s. National Debt:
