Today, the national debt that Hamilton began with a bank loan of $19,608.81 is the largest single entry on any set of books in the world. The federal government pays $19,608.81 in interest on its current debt every 2.4 seconds.
What would Hamilton think of his creation today? He would surely be impressed with its sheer size, although he would note that relative to the American GDP, about $14 trillion, it is "not excessive." But he would, I suspect, not be happy with what borrowed money is being used for. Hamilton saw the debt as a powerful means of fighting wars, building infrastructure, and getting through economic bad times. For the last 30 years and more, however, the national debt has been increasingly used so that no one in Washington ever has to say no to anyone.
The five pillars of Islam are, Shahadatain when you make your promise to become Muslim, Salat when you pray, Zakat when you give charity, hajj the pilgrimage to mecca, and fasting of Ramadan when you don't eat till sun down.
Answer:
In the early twentieth century, reformers worked to improve American society and ... referred to as the Progressive Era, an era of intense social and political reform aimed at ... During the Progressive Era, protections for workers and consumers were ... who founded Hull House in Chicago to help immigrants adapt to life
Explanation:
Sherman’ antitrust law aimed at stopping monopolies especially, the famous New Hersey standard oil company was dissolved based on this law. This act aims at prohibiting any contracts, conspiracies in ‘restraint of trade’ and it proposed fair trade, it was a crime to create monopoly of a product under this law. This law actually helped small workers and encouraged fair competition between the businesses.
William Rockefeller established Standard oil Company in New Jersey, To give a tough opposition to his competitors, Rockefeller secretly discounted the shipping and transportation charges from railroads, he also formed a secret association with old refiners and bought their refineries at cheaper cost and started to produce more of crude oil.
It became a huge monopoly of supplying 90% of America with crude oil. These actions violated the Sherman’s antitrust law which prohibited Illegal monopoly.
