Back when the US had no debt

[spuwho]

Interesting article at NPR reporting when the USA had no Federal Debt, yep, NONE! They even threw a party to celebrate.

Who was the ring leader for this effort to eliminate the debt? Someone very close to this city believe it or not!

http://www.npr.org/blogs/money/2011/04/15/135423586/when-the-u-s-paid-off-the-entire-national-debt-and-why-it-didnt-last?sc=emaf

[spuwho]

The crash happened because he stopped purchases of federal land on credit or over printed state money.

If he had took a phased approach on the gold requirement, the crash probably wouldn't have occurred.

Andrew had an aversion to the use of central banks (he abolished the US National Bank), but the overflow of federal surpluses into the state banks caused them to overprint. (back when states issued their own currency).

The crash was not caused by the elimination of the debt, it was caused by over speculation in real estate. Tell me that has never happened before? And have we learned anything since?