Report on a Plan for the Further Support of Public Credit

In United States history, the Report on a Plan for the Further Support of Public Credit is the "valedictory" report issued to the US Congress on January 16, 1795 by the first Secretary of the Treasury, Alexander Hamilton. In addition to defending the fiscal programs that he had imposed thus far and extolling a system of finance that was "prosperous beyond all expectations", the report enumerated existing sources of revenue, outlined the plan for the "Redemption of the public debt" and its accruing interest to stabilize the current system of funding, and proposed amendments to the System of Public Credit that were designed to "prevent that progressive accumulation of Debt which must ultimately endanger all Government." Essentially, his report was submitted to address the fears of the Democratic-Republicans that the public debt would later become unmanageable.

Source: Wikipedia — Report on a Plan for the Further Support of Public Credit (CC BY-SA 4.0)