War Democrat (constitutionalist) de facto President Andrew Johnson (a resident of the confederate State of Tennessee) turns the presidency over to Republican (nationalist) Lieutenant General Hiram Ulysses Simpson Grant, commander of the Army of the United states. Johnson is giving to Grant a national debt that has contracted from 2,700,000,000 to 2,600,000,000 Dollars, going from 76 to 67 Dollars per person, but rising from 27 to 33% of the of the Gross National Product.
NOTE: The Union is still paying for the Panics of 1837 and 1857, and the War of Federal Aggression through lawful Indirect (tariffs and excise) taxes placed upon manufactured goods.
[added 3/5/2021]
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 1850 – 1899
www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo2.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
Current U.s. National Debt:
