%PDF-1.3 1 0 obj << /Type /Catalog /Outlines 2 0 R /Pages 3 0 R >> endobj 2 0 obj << /Type /Outlines /Count 0 >> endobj 3 0 obj << /Type /Pages /Kids [6 0 R 17 0 R 19 0 R 29 0 R ] /Count 4 /Resources << /ProcSet 4 0 R /Font << /F1 8 0 R /F2 9 0 R /F3 10 0 R >> /XObject << /I1 11 0 R >> >> /MediaBox [0.000 0.000 595.280 841.890] >> endobj 4 0 obj [/PDF /Text /ImageC ] endobj 5 0 obj << /Creator (DOMPDF) /CreationDate (D:20140917070710+01'00') /ModDate (D:20140917070710+01'00') /Title (The Founders and Finance: How Hamilton, Gallatin, and Other Immigrants Forged a New Economy) >> endobj 6 0 obj << /Type /Page /Parent 3 0 R /Annots [ 12 0 R 15 0 R ] /Contents 7 0 R >> endobj 7 0 obj << /Length 4347 >> stream q 381.750 0 0 120.000 34.016 687.874 cm /I1 Do Q 0.000 0.000 0.000 rg BT 34.016 676.469 Td /F1 12.0 Tf [(Published on )] TJ ET BT 99.356 676.469 Td /F2 12.0 Tf [(Reviews in History)] TJ ET BT 190.016 676.469 Td /F1 12.0 Tf [( \()] TJ ET 0.000 0.000 0.800 rg BT 197.012 676.469 Td /F1 12.0 Tf [(http://www.history.ac.uk/reviews)] TJ ET 0.000 0.000 0.800 RG 0.24 w 0 J [ ] 0 d 197.012 675.075 m 357.332 675.075 l S 0.000 0.000 0.000 rg BT 357.332 676.469 Td /F1 12.0 Tf [(\))] TJ ET 0.502 0.502 0.502 RG 0.75 w 0 J [ ] 0 d 34.391 653.743 526.499 1.500 re S BT 34.016 615.321 Td /F3 18.0 Tf [(The Founders and Finance: How Hamilton, Gallatin, and Other )] TJ ET BT 34.016 593.937 Td /F3 18.0 Tf [(Immigrants Forged a New Economy)] TJ ET BT 34.016 251.939 Td /F1 12.0 Tf [(In 1985, the late Thomas K. McCraw won the Pulitzer Prize in History for his joint profile of pioneers of )] TJ ET BT 34.016 237.683 Td /F1 12.0 Tf [(American economic regulation in )] TJ ET BT 197.984 237.683 Td /F2 12.0 Tf [(Prophets of Regulation: Charles Francis Adams, Louis D. Brandeis, )] TJ ET BT 34.016 223.427 Td /F2 12.0 Tf [(James M. Landis, Alfred E. Kahn)] TJ ET BT 194.012 223.427 Td /F1 12.0 Tf [(.)] TJ ET 0.000 0.000 0.800 rg BT 197.012 223.427 Td /F1 12.0 Tf [(\(1\))] TJ ET 0.000 0.000 0.800 RG 0.24 w 0 J [ ] 0 d 197.012 222.033 m 211.004 222.033 l S 0.000 0.000 0.000 rg BT 211.004 223.427 Td /F1 12.0 Tf [( Before passing away last year, McCraw completed a similarly )] TJ ET BT 34.016 209.171 Td /F1 12.0 Tf [(structured study of the earliest American Secretaries of the Treasury in )] TJ ET BT 376.928 209.171 Td /F2 12.0 Tf [(The Founders and Finance: How )] TJ ET BT 34.016 194.915 Td /F2 12.0 Tf [(Hamilton, Gallatin, and Other Immigrants Forged a N ew Economy)] TJ ET BT 361.004 194.915 Td /F1 12.0 Tf [(. As with his earlier book, McCraw )] TJ ET BT 34.016 180.659 Td /F1 12.0 Tf [(attempts to personify periods of American history with leading figures from the time. Unfortunately, the )] TJ ET BT 34.016 166.403 Td /F1 12.0 Tf [(thesis of the book, that Alexander Hamilton?s and Albert Gallatin?s status as immigrants suited them to the )] TJ ET BT 34.016 152.147 Td /F1 12.0 Tf [(tasks of national finance, is never proven. The book does have great merits as a survey, however, and may )] TJ ET BT 34.016 137.891 Td /F1 12.0 Tf [(best be utilized in the undergraduate classroom.)] TJ ET BT 34.016 111.635 Td /F1 12.0 Tf [(McCraw?s book is divided into three sections: two very long ones focusing on Alexander Hamilton and )] TJ ET BT 34.016 97.379 Td /F1 12.0 Tf [(Albert Gallatin corresponding roughly to the years 1776?1800 and 1800?15, and a very short one offering )] TJ ET BT 34.016 83.123 Td /F1 12.0 Tf [(brief analysis and observations on the book?s subjects as well as the state of the field. The thesis is )] TJ ET BT 34.016 68.867 Td /F1 12.0 Tf [(straightforward. Between 1789 and 1820, four out of six of the Treasury Secretaries were foreign-born, )] TJ ET BT 34.016 54.611 Td /F1 12.0 Tf [(accounting for 78 per cent of the time in office. In comparison, only once was another Cabinet position )] TJ ET BT 34.016 563.315 Td /F3 12.0 Tf [(Review Number:)] TJ ET BT 34.016 549.059 Td /F1 12.0 Tf [(1378)] TJ ET BT 34.016 534.803 Td /F3 12.0 Tf [(Publish date:)] TJ ET BT 34.016 520.547 Td /F1 12.0 Tf [(Tuesday, 14 February, 2012)] TJ ET BT 34.016 506.291 Td /F3 12.0 Tf [(Author:)] TJ ET BT 34.016 492.035 Td /F1 12.0 Tf [(Thomas K. McCraw)] TJ ET BT 34.016 477.779 Td /F3 12.0 Tf [(ISBN:)] TJ ET BT 34.016 463.523 Td /F1 12.0 Tf [(9780674066922)] TJ ET BT 34.016 449.267 Td /F3 12.0 Tf [(Date of Publication:)] TJ ET BT 34.016 435.011 Td /F1 12.0 Tf [(2012)] TJ ET BT 34.016 420.755 Td /F3 12.0 Tf [(Price:)] TJ ET BT 34.016 406.499 Td /F1 12.0 Tf [(25.95)] TJ ET BT 34.016 392.243 Td /F3 12.0 Tf [(Pages:)] TJ ET BT 34.016 377.987 Td /F1 12.0 Tf [(390pp.)] TJ ET BT 34.016 363.731 Td /F3 12.0 Tf [(Publisher:)] TJ ET BT 34.016 349.475 Td /F1 12.0 Tf [(Belknap Press)] TJ ET BT 34.016 335.219 Td /F3 12.0 Tf [(Publisher url:)] TJ ET BT 34.016 320.963 Td /F3 12.0 Tf [(Place of Publication:)] TJ ET BT 34.016 306.707 Td /F1 12.0 Tf [(Cambridge, MA)] TJ ET BT 34.016 292.451 Td /F3 12.0 Tf [(Reviewer:)] TJ ET BT 34.016 278.195 Td /F1 12.0 Tf [(Daniel Clinkman)] TJ ET endstream endobj 8 0 obj << /Type /Font /Subtype /Type1 /Name /F1 /BaseFont /Times-Roman /Encoding /WinAnsiEncoding >> endobj 9 0 obj << /Type /Font /Subtype /Type1 /Name /F2 /BaseFont /Times-Italic /Encoding /WinAnsiEncoding >> endobj 10 0 obj << /Type /Font /Subtype /Type1 /Name /F3 /BaseFont /Times-Bold /Encoding /WinAnsiEncoding >> endobj 11 0 obj << /Type /XObject /Subtype /Image /Width 509 /Height 160 /Filter /FlateDecode /DecodeParms << /Predictor 15 /Colors 3 /Columns 509 /BitsPerComponent 8>> /Mask [ 255 255 255 255 255 255 ] /ColorSpace /DeviceRGB /BitsPerComponent 8 /Length 3280>> stream x[EQ㎦fVttҒ +3O{?lGDQԯDrB^.ϯ%~'0۠/2>0AG_>0j0GCfE67>rB^}@  !&y+r?INp:erc b8f=rQC!~-Wf^^zF[)G 2ޯe7V_Go3Ke GEGOo8rώ#\1ZY~N6^H}yLxS-!:412V+u\-LSO?xVvZ|GjǮT_8EYJF=Tw^ 7GxfN/S:Ʌ~ʟtt?5n÷J'JcF-GVξx{rO~tJd;#a\7}|~y'>}c2C vR}f׈**h.)_&@pfzjsx:5;S\vKhM5j=!Cn+h"u]a EUN]jn=k<,:Ք>sU!ni~6EJ)¦72?G}[y}_vc$t?iSܟ2Zݞ,VN?_`='RFK1A2qv&X_lLRWY'%:I㢖zb_UEx\>&ɆBˏ~K@ \gYØU4}$8Dv!'Q'*+Εj(UCGo[#< 2Ja(sZi9fZKE Rn`u\9r^Zmɯ׹}mstO4uc~#'jEvۼ Dx[z ޏQ4KL5,5u3>i^uÒ-53ba ~,~/pyt1fMU'CVm:qv~=Y'Es"WsφG?l_kN5}],Ow7 uh`xƫ?zMl7ٻv$A(4Dl(wwH} ?=[=S;yC]^BK>㕪9`Z'Wj;E|:bf>kCԘ#RY,iv쵗~}n'"1u" *uO΄/2^Sxr(!/DD\~mJyZ!MmrA!#u[if|99WB WΡpp}w}sh#,\ &:%˳X?D3 %W0cC?o̲^} F3XLVn]Cߖiϧ!7}yZJ#P7]=)7Ρp;>> Ye^xx{Oafw{ ;>4gfLt ʊ:q%#r/)pv!O4wGh|dS ӣݽހ-gVUC'pBxrB^} 7JA^} /'8!`:r?}}],X  }6y!`/~Br?}Q< >k7vx"] ,' .3jn{-i}|~%-};b6#U)7繎kiEw 㤳:E}[޼c"rꬊ7Dc$~"/Y&zSd:tFȌCrʙ`7u .#[-<)j ?TGS(j~oTup(hjU4PlJ=}|it.ҽ@\wʨuXÞZcx18Wo<~ikOg,ވ\^?EneyZcc0[R١z|zv7_m:_n]a?osS3~j^ hD.a_X'KfBX6w wݶ"Oa:,bvhrWH[uCF-Xfc}>x+Rz)2N-B 7y^٨;[/vg? | |2Sve}=o䑰j[vWjF0{굦?VI~}xM(_TlG__+]:#к?S} c>GŸD7 !w{S{B =x7a?oE#)+Gz:o_4Q<;n?\tt7?mGCџQGu4kņOF>F?#} hP&ђߴM#u!.СtL2^#o nIk_i.~7tr@n 1P~3?.[]=S5b߮~Yo^HFH YBi8a4iom>CKgMy*;?zqEӕ` >zB9iFzC?XF?ޟIܰ펉A}{I5ᄊx%ez#Mp@rߎpi]IOVjzuJt\۰f׺u5><,J~PTJp1)}){9N {!`/> endstream endobj 12 0 obj << /Type /Annot /Subtype /Link /A 13 0 R /Border [0 0 0] /H /I /Rect [ 197.0117 675.3895 357.3317 687.2695 ] >> endobj 13 0 obj << /Type /Action /S /URI /URI (http://www.history.ac.uk/reviews) >> endobj 14 0 obj [6 0 R /Fit] endobj 15 0 obj << /Type /Annot /Subtype /Link /A 16 0 R /Border [0 0 0] /H /I /Rect [ 197.0117 222.3475 211.0037 234.2275 ] >> endobj 16 0 obj << /Type /Action >> endobj 17 0 obj << /Type /Page /Parent 3 0 R /Contents 18 0 R >> endobj 18 0 obj << /Length 6917 >> stream 0.000 0.000 0.000 rg 0.000 0.000 0.800 RG 0.24 w 0 J [ ] 0 d BT 34.016 796.469 Td /F1 12.0 Tf [(during this time occupied by a foreigner \(pp. 2-4\). McCraw?s argument is that the clustering of immigrants )] TJ ET BT 34.016 782.213 Td /F1 12.0 Tf [(at Treasury is significant and that they must have brought valuable expertise in financial management from )] TJ ET BT 34.016 767.957 Td /F1 12.0 Tf [(overseas.)] TJ ET BT 34.016 741.701 Td /F1 12.0 Tf [(Over 14 chapters McCraw tracks Hamilton?s life story from his humble beginnings as a Caribbean )] TJ ET BT 34.016 727.445 Td /F1 12.0 Tf [(merchant?s clerk to his death in a duel with Aaron Burr. The focus is on the 1780s and 1790s, when )] TJ ET BT 34.016 713.189 Td /F1 12.0 Tf [(Hamilton was involved in management of the Confederation Congress?s finances, and subsequently his )] TJ ET BT 34.016 698.933 Td /F1 12.0 Tf [(tenure as Treasury Secretary from 1789?95. Hamilton?s reports to Congress, in which he laid out his fiscal )] TJ ET BT 34.016 684.677 Td /F1 12.0 Tf [(and economic policies, are the centerpieces of these chapters. Along the way, McCraw also explains the )] TJ ET BT 34.016 670.421 Td /F1 12.0 Tf [(Constitutional Convention and the formation of the First Party System in the United States.)] TJ ET BT 34.016 644.165 Td /F1 12.0 Tf [(The Gallatin chapters slightly overlap with Hamilton?s, detailing Gallatin?s arrival in the United States, his )] TJ ET BT 34.016 629.909 Td /F1 12.0 Tf [(election to office, and his leadership of the Congressional committee that oversaw the Treasury. Initially a )] TJ ET BT 34.016 615.653 Td /F1 12.0 Tf [(foil for Hamilton, Gallatin is depicted as coming into his own once the Jeffersonian Republicans won power )] TJ ET BT 34.016 601.397 Td /F1 12.0 Tf [(in the 1800 general election. Jefferson promoted Gallatin to be his new Treasury Secretary, at which point )] TJ ET BT 34.016 587.141 Td /F1 12.0 Tf [(Gallatin began to adapt the financial architecture set up by Hamilton to serve Republican priorities. McCraw )] TJ ET BT 34.016 572.885 Td /F1 12.0 Tf [(depicts Gallatin as the mind behind the throne, arranging for crucial infusions of money to support )] TJ ET BT 34.016 558.629 Td /F1 12.0 Tf [(Jefferson?s initiatives such as the Louisiana Purchase, while also cautioning Jefferson and James Madison )] TJ ET BT 34.016 544.373 Td /F1 12.0 Tf [(from over-reaching in their confrontations with Great Britain. McCraw is of the decided, and frequently )] TJ ET BT 34.016 530.117 Td /F1 12.0 Tf [(repeated, opinion that the fiascoes of Jefferson?s embargo against the European powers in 1807, and )] TJ ET BT 34.016 515.861 Td /F1 12.0 Tf [(Madison?s choice of war in 1812, could have been avoided if those presidents had listened to Gallatin more )] TJ ET BT 34.016 501.605 Td /F1 12.0 Tf [(attentively.)] TJ ET BT 34.016 475.349 Td /F1 12.0 Tf [(This singular focus on two figures is one of the hazards of adopting a biographical approach, and somewhat )] TJ ET BT 34.016 461.093 Td /F1 12.0 Tf [(undermines McCraw?s claim of a larger group of influential immigrants by focusing on the two most salient )] TJ ET BT 34.016 446.837 Td /F1 12.0 Tf [(members of that group. Rarely do other immigrants actually appear in the biographical narratives, and when )] TJ ET BT 34.016 432.581 Td /F1 12.0 Tf [(they do, as in the case of James McHenry, it is in a personal capacity as a member of Hamilton?s wedding )] TJ ET BT 34.016 418.325 Td /F1 12.0 Tf [(party; the only other to receive substantive treatment for his work on finance is Robert Morris, but he is )] TJ ET BT 34.016 404.069 Td /F1 12.0 Tf [(treated more as a place-setter for Hamilton than as a financial engineer in his own right. Other hazards of )] TJ ET BT 34.016 389.813 Td /F1 12.0 Tf [(biography apply as well. Passages of moralizing and hagiography are strewn throughout the book, )] TJ ET BT 34.016 375.557 Td /F1 12.0 Tf [(punctuated as well by airing of dirty laundry. For example, Hamilton?s affair with Maria Reynolds is of little )] TJ ET BT 34.016 361.301 Td /F1 12.0 Tf [(demonstrated relevance to proving the importance of his immigrant status to his financial policies, yet it )] TJ ET BT 34.016 347.045 Td /F1 12.0 Tf [(garners repeated attention \(pp. 120?1, 155?63\).)] TJ ET BT 34.016 320.789 Td /F1 12.0 Tf [(The constant asides into Hamilton?s and Gallatin?s personal lives, without demonstrating the relevance of )] TJ ET BT 34.016 306.533 Td /F1 12.0 Tf [(those anecdotes to the book?s thesis, serve to underline rather than distract from McCraw?s avoidance of the )] TJ ET BT 34.016 292.277 Td /F1 12.0 Tf [(immigrant issue. For example, a contrast between the ?town? background of Hamilton and the ?country? )] TJ ET BT 34.016 278.021 Td /F1 12.0 Tf [(background of Madison raises an opportunity for McCraw to discuss wider issues of town-country division )] TJ ET BT 34.016 263.765 Td /F1 12.0 Tf [(in the early republic, and specifically the consequences of the concentration of immigrants within cities \(pp. )] TJ ET BT 34.016 249.509 Td /F1 12.0 Tf [(102?4\). Yet, having raised the issue, McCraw elides it, immediately claiming that, in fact, opposition to the )] TJ ET BT 34.016 235.253 Td /F1 12.0 Tf [(Hamiltonian financial program came from all quarters. It is a perplexing missed opportunity for greater )] TJ ET BT 34.016 220.997 Td /F1 12.0 Tf [(analysis, and characteristic of the book as a whole.)] TJ ET BT 34.016 194.741 Td /F1 12.0 Tf [(By avoiding engaging with opportunities to prove the thesis, McCraw is forced to fall back on )] TJ ET BT 34.016 180.485 Td /F1 12.0 Tf [(generalizations and unfounded assertions, such as the claim that Gallatin was ?a sophisticated immigrant )] TJ ET BT 34.016 166.229 Td /F1 12.0 Tf [(from Europe unfazed by dealing in ... gigantic sums?, or that both men ?were shaped by their own )] TJ ET BT 34.016 151.973 Td /F1 12.0 Tf [(experience of mobility and migration? \(pp. 242, 214\). But Gallatin never worked in finance before )] TJ ET BT 34.016 137.717 Td /F1 12.0 Tf [(emigrating to America, and the second statement is so vague as to be meaningless. Yes, being an immigrant )] TJ ET BT 34.016 123.461 Td /F1 12.0 Tf [(was undoubtedly important ? but how and why? That answer is never really provided.)] TJ ET BT 34.016 97.205 Td /F1 12.0 Tf [(The only times when McCraw provides specific evidence of the importance of immigrant status is when )] TJ ET BT 34.016 82.949 Td /F1 12.0 Tf [(demonstrating nativist prejudice against immigrants, in the form of John Adams? ?bastard Brat of a Scots )] TJ ET BT 34.016 68.693 Td /F1 12.0 Tf [(pedlar? remark against Hamilton, the successful effort to oust Gallatin from the Senate on the grounds of his )] TJ ET BT 34.016 54.437 Td /F1 12.0 Tf [(being an immigrant who had not been naturalized for the required length of time before taking up his seat, )] TJ ET endstream endobj 19 0 obj << /Type /Page /Parent 3 0 R /Annots [ 21 0 R 23 0 R 25 0 R 27 0 R ] /Contents 20 0 R >> endobj 20 0 obj << /Length 6778 >> stream 0.000 0.000 0.000 rg 0.000 0.000 0.800 RG 0.24 w 0 J [ ] 0 d BT 34.016 796.469 Td /F1 12.0 Tf [(and the xenophobic opposition to his nomination as Secretary of State \(pp. 31, 201, 285\). These are all good )] TJ ET BT 34.016 782.213 Td /F1 12.0 Tf [(examples, but as evidence of the prejudices of others they still do not answer the question of what about )] TJ ET BT 34.016 767.957 Td /F1 12.0 Tf [(being an immigrant influenced the minds and policies of Hamilton and Gallatin themselves.)] TJ ET BT 34.016 741.701 Td /F1 12.0 Tf [(While the vast majority of the book is taken up with biographical narrative, McCraw does devote about 40 )] TJ ET BT 34.016 727.445 Td /F1 12.0 Tf [(pages at the end to analysis. Unfortunately, this opportunity to really drive home the book?s argument is not )] TJ ET BT 34.016 713.189 Td /F1 12.0 Tf [(taken advantage of and, in fact, makes things even murkier. To begin, McCraw clarifies his immigrant )] TJ ET BT 34.016 698.933 Td /F1 12.0 Tf [(thesis, explaining that immigrants had exceptional expertise in liquid capital management, while native-)] TJ ET BT 34.016 684.677 Td /F1 12.0 Tf [(borns had expertise in land management \(pp. 329, 335\). This is reasonable, but is not followed up with )] TJ ET BT 34.016 670.421 Td /F1 12.0 Tf [(evidence. Instead, McCraw asserts that it ?would be impossible to construct a roster of native-born )] TJ ET BT 34.016 656.165 Td /F1 12.0 Tf [(Americans of that time who could match these eight immigrants in their expertise at large scale finance? \(p. )] TJ ET BT 34.016 641.909 Td /F1 12.0 Tf [(338\).)] TJ ET BT 34.016 615.653 Td /F1 12.0 Tf [(The assertion that Hamilton, who spent a few childhood years as a merchant clerk, and Gallatin, who only )] TJ ET BT 34.016 601.397 Td /F1 12.0 Tf [(got his experience once he was in Congress, were uniquely qualified over all the other clerks and )] TJ ET BT 34.016 587.141 Td /F1 12.0 Tf [(Congressmen in the 13 states, is mind-bogglingly broad and obviously untrue when the six other, less )] TJ ET BT 34.016 572.885 Td /F1 12.0 Tf [(notable immigrants are taken into account. It is further undermined when McCraw goes on to state that the )] TJ ET BT 34.016 558.629 Td /F1 12.0 Tf [(immigrants? advantage was in the ability to utilize credit, whereas the native-born could only utilize ready )] TJ ET BT 34.016 544.373 Td /F1 12.0 Tf [(capital \(p. 351\). This contradicts his previous statement on land and capital. That it is actually the most )] TJ ET BT 34.016 530.117 Td /F1 12.0 Tf [(plausible explanation yet does not change that it is an assertion only, not backed up with any evidence.)] TJ ET BT 34.016 503.861 Td /F1 12.0 Tf [(It is also worth pointing out that McCraw devotes nine of the 40 pages to a very uncharitable, and unfair, )] TJ ET BT 34.016 489.605 Td /F1 12.0 Tf [(criticism of historians whose work he admonishes for not taking adequate account of contingency in )] TJ ET BT 34.016 475.349 Td /F1 12.0 Tf [(historical developments. At no point does McCraw provide names of the historians he is criticizing or give )] TJ ET BT 34.016 461.093 Td /F1 12.0 Tf [(examples of the kinds of defects he complains of. This obvious straw man argument is out of place in an )] TJ ET BT 34.016 446.837 Td /F1 12.0 Tf [(academic publication.)] TJ ET BT 34.016 420.581 Td /F1 12.0 Tf [(These are all major flaws, but it is worth saying that the book does have merit if approached from a )] TJ ET BT 34.016 406.325 Td /F1 12.0 Tf [(generalist?s, rather than an academic?s, point of view. McCraw?s prose is highly readable and, to his credit, )] TJ ET BT 34.016 392.069 Td /F1 12.0 Tf [(he makes complicated financial programs comprehensible to a non-specialist. This does not compensate for )] TJ ET BT 34.016 377.813 Td /F1 12.0 Tf [(the unproven immigrant thesis, but it does suggest that the book may have its uses as an introduction to )] TJ ET BT 34.016 363.557 Td /F1 12.0 Tf [(public finance for the general public. In these times in which interpretations of the American founding, and )] TJ ET BT 34.016 349.301 Td /F1 12.0 Tf [(of public finance such as the national debt, are in the public mind, McCraw?s book may meet with a )] TJ ET BT 34.016 335.045 Td /F1 12.0 Tf [(receptive general audience.)] TJ ET BT 34.016 308.789 Td /F1 12.0 Tf [(So what should the final judgement on this book be? Reading it as an academic specialist, the book is )] TJ ET BT 34.016 294.533 Td /F1 12.0 Tf [(disappointing in that its weak thesis on the correlation of immigrants to the office of Treasury Secretary is )] TJ ET BT 34.016 280.277 Td /F1 12.0 Tf [(not fully explored, nor evidence for causative influence on public policy demonstrated. On the other hand, )] TJ ET BT 34.016 266.021 Td /F1 12.0 Tf [(the book has much to offer the general reader, with its clear explanation of financial instruments and its )] TJ ET BT 34.016 251.765 Td /F1 12.0 Tf [(lively prose. If the book were issued by a trade press, it would be a clear success and stand above many other )] TJ ET BT 34.016 237.509 Td /F1 12.0 Tf [(works of popular literature on the American founding and early republic. As it is, its publication by an )] TJ ET BT 34.016 223.253 Td /F1 12.0 Tf [(academic press raises questions as to its intended audience and what statement it is actually trying to make.)] TJ ET BT 34.016 188.355 Td /F3 18.0 Tf [(Notes)] TJ ET BT 48.816 157.738 Td /F1 12.0 Tf [(1.)] TJ ET BT 64.016 157.733 Td /F1 12.0 Tf [(Thomas K. McCraw, )] TJ ET BT 168.332 157.733 Td /F2 12.0 Tf [(Prophets of Regulation: Charles Francis Adams, Louis D. Brandeis, James M. )] TJ ET BT 64.016 143.477 Td /F2 12.0 Tf [(Landis, Alfred E. Kahn)] TJ ET BT 175.028 143.477 Td /F1 12.0 Tf [( \(Cambridge, MS, 1984\).)] TJ ET 0.000 0.000 0.800 rg BT 295.688 143.477 Td /F1 12.0 Tf [(Back to \(1\))] TJ ET 0.24 w 0 J [ ] 0 d 295.688 142.083 m 349.676 142.083 l S 0.000 0.000 0.000 rg BT 34.016 117.221 Td /F3 12.0 Tf [(Other reviews:)] TJ ET BT 34.016 102.965 Td /F1 12.0 Tf [(New York Journal of Books)] TJ ET 0.000 0.000 0.800 rg BT 34.016 88.709 Td /F1 12.0 Tf [(http://www.nyjournalofbooks.com/review/founders-and-finance-how-hamilton-gallatin-and-other-)] TJ ET 0.24 w 0 J [ ] 0 d 34.016 87.315 m 507.260 87.315 l S BT 34.016 74.453 Td /F1 12.0 Tf [(immigrants-forged-new-economy)] TJ ET 0.24 w 0 J [ ] 0 d 34.016 73.059 m 195.980 73.059 l S 0.000 0.000 0.000 rg BT 198.980 74.453 Td /F1 12.0 Tf [([2])] TJ ET BT 34.016 60.197 Td /F1 12.0 Tf [(Harvard Business School Working Knowledge)] TJ ET 0.000 0.000 0.800 rg BT 34.016 45.941 Td /F1 12.0 Tf [(http://hbswk.hbs.edu/item/7103.html)] TJ ET 0.24 w 0 J [ ] 0 d 34.016 44.547 m 211.040 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