THE FUNDING BILL, as a step towards making the Erie Canal free, should commend itself to any one, since if it becomes a fact, it will, we fancy, prevent this noble industrial enterprise from becoming, like its first cousin, simply an eyrie for the vultures of finance.

It need not he told that the various debates in Congress on the funding of the national debt, on tariffs, on the bank, and other financial measures, led to the formation of two great political parties, which divided the nation for more than twenty years,parties of which Hamilton and Jefferson were the respective leaders.

(This tradition of government interference in the rise of a community-driven internet is contrasted by the early participation of the UK's Labour government in the funding of internet opportunities there, such as community centres and public timeshare terminals, which were initially exploited mainly by arts collectives, union organisers, and activists.

Of course all this didn't play very well with the nascent UK internet industry, which saw its slow start compared with the US and other developed nations as a direct result of government over-management and anti-competitive funding policies.)

Since the decay of the feudal system, by which the public defense was provided for chiefly at the expense of individuals, the system of loans has been introduced, and as no nation can raise within the year by taxes sufficient sums for its defense and military operations in time of war, the sums loaned and debts contracted have necessarily become the subjects of what have been called funding systems.

There seemed, too, much reason to believe that, without some new measure to check the rapid accumulation of debt, we could no longer trust to the stability of that funding system by which the nation had been enabled to support the expense of all the different wars in which we have engaged in the course of the present century.

In view of the recent long and luminous discourse by a distinguished United States Senator upon the subject of the funding bill, it is respectfully suggested that a part of the amount to be saved to the nation by this financial scheme shall be devoted to the erection of a "palace lifting to eternal SUMNER!" * *

If Mr. Jefferson is elected, the equal representation of the small States in the Senate will be destroyed, the funding system swept away, the navy abolished, all commerce and foreign trade prohibited, and the fruits of the soil left to rot on the hands of the farmer.

Assumption and Funding.%For the redemption of this debt Hamilton prepared two measures,the funding, or, as we should say, the bonding, of the foreign and Continental debt, and the assuming and funding of the state debts.

Assumption and Funding.%For the redemption of this debt Hamilton prepared two measures,the funding, or, as we should say, the bonding, of the foreign and Continental debt, and the assuming and funding of the state debts.

The Bank of the United States.%The troublesome questions of funding and assumption thus disposed of, Congress called on Hamilton for a report on the further support of public credit, and when it met in the session of 1790-91, received a plan for a great National Bank, with a capital of $10,000,000.

The effect of these two measures, funding the debt and establishing a bank, was immediate.

A great national debt, they said, a funding system, a national bank, and heavy internal taxes are all monarchical institutions, and if you have the institutions, it will not be long before you have the monarchy.

The price of funding was the ultimate location of the national capital on the Potomac. 7.

THE ORIGIN OF POLITICAL PARTIES /\ Funding the Continental Debt.

Funding of national debt.

Incidentally the funding of the debt would provide securities that would serve trade as a species of currency, and would set in motion a long train of benefits that would extend throughout the community.

In the funding operation the debts contracted by the States should be included.

Hamilton then went into details of a funding loan, in which various options were offered to the creditors, including land grants in part payment, and conversion in whole or in part into annuities, several sorts of which were offered.

To such a pitch had the "spirit of funding and borrowing been carried in that country" that its national debt was now "a burthen which the most sanguine mind can never contemplate they will ever be relieved from."

He argued that by funding the debt in America "the same effect must be produced that has taken place in other nations; it must either bring on national bankruptcy, or annihilate her existence as an independent empire.

The residence act was approved July 16, 1790; the funding and assumption measures, now combined in one bill, became law on August 4.

It is needless to go into details, now that public loans, the funding of floating indebtedness in excess of current income, and the maintenance of a national banking system to supply machinery of credit, are such well recognized functions that the wonder is how any statesman could have ever thought otherwise.

71; funding scheme for, 72 CANADA lends to England, 73 Capital, bad effects of export of, 164; difficulty of controlling, 166, 171; definition of, 4, 17; function of, 3 seq.; how acquired, 16; plenty of, advantageous to workers, 19, 20; reward of, 2 seq.

This has induced Congress, from 1837, to resort to the expedient of issuing Treasury notes, and finally of funding them, in order to supply deficiencies.