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Bankers Made a Killing When U.S. Was Formed, Like Now: Review

William Duer was a friend of Alexander Hamilton who wrote essays supporting the ratification of the U.S. Constitution in 1787 and ’88.

He proposed that the new federal government should gain investors’ trust by paying old state and national debts -- failing to mention that he was one of the creditors who would benefit most handsomely from those payments.