Alexander Hamilton, the first U.S. Secretary of the Treasury, is somewhat of a pop culture phenomenon thanks to a hit musical about his life. But a new book called The Hamilton Scheme dives into a less-known part of Hamilton's legacy — his vision for public debt. In today's interview, author and historian William Hogeland speaks with NPR's Steve Inskeep about why Hamilton considered higher loans to be paid by the federal government a good thing, and how that can be traced to today's relationship between China and the United States.

To listen to Book of the Day sponsor-free and support NPR's book coverage, sign up for Book of the Day+ at plus.npr.org/bookoftheday

Learn more about sponsor message choices: podcastchoices.com/adchoices

NPR Privacy Policy