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This Day In Founding Fathers History – 14 March 2013
In 1812 on this day, Congress authorized war bonds to finance the War of 1812. The total public debt increased from $45.2 million on January 1, 1812 to $119.2 million as of September 30, 1815. 2
In 1900 the Gold Standard Act is ratified, placing United States currency on the gold standard.
And on a happier note… in 1883 German philosopher and political theorist Karl Marx died.
1 “Eli Whitney,” invent.org/hall_of_fame/152.html
2 “1812: The First Test of Debt,” Bureau of the Public Debt, publicdebt.treas.gov/history/1800.htm