Blog Post #2

In Wright’s One Nation Under Debt, he continues to make the analogy to life from the beginning to the end. Chapter 4 is titled “Gestation,” taking meaning from the process of carrying a baby in the womb. In this case, it means the development of something over time. In this section we learn about the development of the U.S. national debt and how it relates to the Constitution. In Chapter 5, Wright discusses the “Birth” of national debt, especially in regard to “Alexander’s Grand Plan.” His plan includes paying off debts, gaining money through tariffs, and creating a national bank. These three things were his way of trying to fix the money issues in America. In Chapter 6, Youth and Maturity, Wright discusses the growing debt and how it continuously affects the country.

In the American Economy, an article titled “William M. Gouge Decries Banks as Corporations” which he wrote in 1833 is included. Throughout the article Gouge explains how banks can be compared to corporations, which he thinks is bad for the people. According to him, “Corporations are unfavorable to the progress of national wealth” due to the amount of displaced power they have. Banks trust everything to people who are paid for what they do. Because of this, Gouge says that they are less trustworthy than people who work for small companies who know their bosses well and do not form a huge corporation.