Founding Finance Hogeland Summary

In the Common Era, students are taught about historical moments in early stages of the United States becoming what it is today. Some of the more notable historical moments included learning about the Triangle Trade, the Boston tea Party, and the American Revolution War. When students learned about all these memorable events in history, they are never going into the actual details on how the colonies survived and funded these events. Let alone funding, students realized the amount of desire and passion put forth by the founders to rise against Great Britain. Looking back in time, without in depth knowledge of this time period, going against a country as powerful as Great Britain was a suicide mission. In Founding Finance, William Hogeland does a complete historic analysis on how America’s rose to be the centerpiece country it is today. Hogeland makes the

Hogeland explains that Hamilton was the brain and Morris was the financer. Founding Finance states, “Creditors wondered how the Congress, with no coffers of gold, could reliably back bills of exchange. Robert Morris showed them how. On behalf of the Congress, he made a deal with France for a large cash loan- about $2.5 million- dedicated not to supplying or paying troops but to paying American investors regular interest, in bills of exchange, on federal bonds. Well-backed, the bonds now sold quickly to a small group-largely partners, associates, clients, and friends of Robert Morris.” These two Founding Fathers were essentially the building blocks of the first legit finance system this country had. Morris shaped the country in another way that not a lot of American realized. When the Continental army needed money because their bonds were not being accepted, Morris lent his. This was known as “mr.morris money” because he solely funded it. He later established the first national bank and helped finance the military during the American