the federal government, what we see is that much of the currency increased in value tremendously..obenou were smart enough to purchase this currency at a low rate to pennies on the dollar and the federal government was going to turn around and give you full face value for it, it meant an increase in what you were going to get. if you bought it for 30 cents and now you were going to get a made 70 cents on that purchase. what we see is that many of the people with money who were necessary to help fund the government would buy in, hamilton believed. he expected the creation of a new national debt would give creditors a stake in the economic stability of the nation. hamilton's program proved to be a boom to spectators, as i said, merchants as well and other money men from port cities. they accumulated large amounts of currency and much was purchased at considerably depressed prices which meant the policy would bring them considerable wealth. now, the whiskey tax was devised to pay off this debt. how there is a shift in the people who are actually going to have to pay it off. it's the finan

he spent 'oben post dock tore fellowship and taught at the university of wisconsin, yale, the universitywas the 52 professor at the bush exile and director of programming for the scowcroft institute. jeff received a silver star award for teachling and mentorship, a distinguished teaching award from a & m's association of former students, and a university system chancellor's teaching excellence award. among the numerous articles and books he has written or edited, his cold war at 30,000 feed won the prize. he was sheaffer's 2012 lecturer and -- recent recipient of a fell oship. he's currently writing "when the world seemed new" and the surprisingly peaceful end of the cold war. mary? inch thank you. it's great that c-span is here so many more can join us in this discussion. the people here have an advantage. they wisely gave you two free drinks before you had to start lurching to me, so i'm hoping that will blunt the edge of your skeptical and penetrating questions. so i have just a few minutes to tell you a little bit about the fall of the wall, and then my colleagues will talk more abou