Poverty, Early, Of United States
Early U.S. leaders experienced poverty, relying on personal credit to meet expenses.
The present great wealth of this country forms a striking contrast to the facts given below:
So low were the funds in the public treasury of the United States at the close of 1789 that the Attorney-General and several Congressmen were indebted to the private credit of Alexander Hamilton, their Secretary of State, to discharge their personal expenses. President Washington was obliged to pass a note to Tobias Leer, his private secretary, to meet his household expenses, the note being discounted at the rate of two per cent per month, and members of Congress were paid in due-bills.