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The historic Funding Act of 1790...
The historic Funding Act of 1790...
Item # 699027
August 07, 1790
GAZETTE OF THE UNITED STATES, New York, Aug. 7, 1790 Taking about a full page of text including almost all of page 2 is: "An Act making Provision for the Debt of the United States" which is signed in type by John Adams, Thomas Jefferson, and George Washington.
This was the very historic Funding Act of 1790 which was passed on August 4, 1790 by the United States Congress to address the issue of funding of the domestic debt incurred by the individual colonies during the Revolutionary War and when they were in confederation before the organization of the federal government.
By the Act the new federal government assumed the debts of each of the individual colonies on its own "full faith and credit".
This was the first significant fiscal measure passed by the new government to address the national debt.
The balance of page 3 is mostly taken up with reports from Congress although one brief item notes: "A sermon, on a charitable occasion, will be preached by Dr. Witherspoon to-morrow, in the Old Presbyterian Church." And there is a short list of: "Appointments--By Authority" including General Knox to negotiate a treaty with the Creek Indian Nation.
Four pages, some rubbing to a front page fold, a bit of foxing, generally good condition.
Note: This issue (along with 3 additional follow-up issues) sold in auction for $7500 in 2017.
Category: The 1600's and 1700's
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