Alexander Hamilton's Dilemmas

After the Revolutionary War, most states went into debt because the finance of the Revolutionary War pushed out the taxes three or four times the level to help wage the war. Most American demanded the relief of high taxes and heavy debt. Alexander Hamilton "instituted a plan to get the brand new nation off on the right foot financially." Hamilton believed in debt because in order to establish credit you must have the ability to borrow in the future. Hamilton also wanted to establish a national bank to unify and stabilize currency called the Bank of the United State.

Hamilton believed that wealthy Americans would provide political support to the government and his plan in general would help pay off the debt to merchants who they owed most of their debt to. However, the debt would have to be paid by through taxes by the American people. Hamilton thought money and wealthy Americans would solve all of their problems concerning debt, and that in result would secure the government. Unfortunately, most Americans were not the wealthy

The country was deep in debt and Hamilton’s strong federalist beliefs seemed to go against the founding beliefs of the country. Many were concerned that the government would have too much power. Jefferson wanted more representation of the people in government

There were many different beliefs throughout the colonies in the late 1700s. Jefferson did not believe in a strong Federal government, he believed in a government run by all educated men. Jefferson wanted a strict construction of the Constitution. When Hamilton introduced the idea of a Federal Bank, Jefferson disagreed with him, saying that the constitution did not give the government the power to create a Federal Bank.

Alexander Hamilton, the first Secretary of Treasury of the United States, had a lot going for himself being a man that came from poverty to success, and he was a man “all powerful and fails at nothing which he attempts” admitted a congressman in 1791 (Tindall and Shi). Born in the Caribbean in the West Indies, abandoned by his father and orphaned at the age of 13 by his late mother who had died. Later moved to New York, became a lawyer and transitioned to nationalism thus giving him the important role of handling the weight of the debt America had accumulated $54 million deep after the Revolutionary War (Digital History). Hamilton saw the need for some financial credit to be given to America and he had the right idea by proposing a National Bank to his first president George Washington. Word dispersed of that proposal leading a

His campaign for a big, powerful government allowed for the government to support and protect the economy. His policy called for the federal government to assume the unpaid debts of the states. Hamilton states, “that assumption of the debts of the particular states by the union, will be a measure of sound policy and substantial justice” (Hamilton’s First Report on Public Credit). Hamilton’s policies also granted the right for the United States to have a National Bank that could print paper money, thereby stabilizing the value of currency. Hamilton stated that the bank’s chief object is “to enable the creation of a capital sufficiently large to be the basis of an extensive circulation, and an adequate security for it” (Hamilton’s Second Report on Public Credit).

Who is Alexander Hamilton? He is a founding father who isn’t really in your average history book. He isn’t even from our country yet he still didn’t care. The major parts of his life were his childhood, the revolution, and then what happened after the war. Hamilton’s childhood played a big part in his life.

Hamilton believes in strong federal government and weak state governments. He also wants to favor rich people and insist on rich should rule the country and he has a loose interpretation of the constitution. Hamilton dreams towards country economy should

“Alexander Hamilton, a delegate to the Constitutional Convention and major author of the Federalist papers, was the United States' first secretary of the treasury” (Biography.com). From the Revolutionary War to his fatal death, Alexander Hamilton did many things throughout his life and is one of the many people that helped develop the first political party called the Federalists. All of this began on January 11th, on the island of Nevis, in the British West Indies, when Alexander Hamilton was born. The exact year of Alexander’s birth is unknown, but it is estimated that he was born in either 1755 or 1757. He was the result of an affair with his mother, Rachel Fawcett Lavine, and a Scottish trader that soon abandoned them.

Hamilton nearly killed himself fulfilling these requests, but he did so brilliantly and completely, in turn exhausting congress going through them meticulously. He dazzled them with his brilliance and many were simply intellectually incapable of comprehending his plans. Not content to establish the customs service and the coast guard, and create a stable monetary system for the new government, Hamilton also dabbled in the affairs of state, much to the chagrin of Thomas Jefferson. He was once again an indefatigable assistant to Washington. Hamilton left the cabinet after Washington’s first term, returning to his New York law practice to repair his family finances, but Washington continued to rely upon him, as did many other cabinet members.

Each one had their own view of how to do this, but it was a main goal of both politicians. Alexander Hamilton was a founding father and leader of the Federalist party. Hamilton wanted America to be just like Great Britain. He believed that in the best interest for the country, the government should be run by elite people with lots of money. Hamilton was The United States Secretary of Treasury, during this time, and proposed many of his reform ideas to Congress.

Hamilton wanted to create public credit with a treasury system, a national bank, a mint, and increase manufacturing which would help unify the country. On the other hand, there was Jefferson, who opposed a strong central government. He argued that the “wealthy would gain at the expense of ordinary Americans and that Hamilton’s political economy would corrupt the morality of citizens and undermine the social conditions essential to republican government”(Powerpoint). The country would opt for an approach closer to Hamilton’s views. One of the first acts was the National Banking Act.

While a literary device, tragic heroes also appear in real life. A perfect example of a real life tragic hero is Alexander Hamilton, the first Secretary of the Treasury. This modern tragic hero started life as an orphan in poverty, living in the Caribbean, but his elevated character of exceptional literary skills, wit and progressive political ideas eventually landed him a spot as one of the most influential people in the United States. Alexander Hamilton had a positive hamartia, as he refused to remain quiet about the injustices of his country, oblivious to the danger it created for him and his family. The downfall of Hamilton occurred gradually.

Hamilton vs. Jefferson Visions to Reality     Thomas Jefferson and Alexander Hamilton both had very defined visions of the scope and power of the new federal government, how they saw the future of the economic development, and what the United States society should become. In my opinion Alexander Hamilton had more of an impact on the United States during the 1820’s and on contemporary government when compared to Thomas Jefferson. His policies did not strictly work during that time and many of his ideas are still seen in today’s society. Jefferson’s views and ideas on/of the national bank, higher tariffs, debt assumption, The Federalist Party, and his support of the ratification of the Constitution are all reasons in why his policies and visions came closer to becoming a reality.     Thomas Jefferson and Alexander Hamilton, molded the gatherings that provoked to the twofold party system under which the U.S. works today.

Tessa Nugent US History to 1877 Professor Gray 2/18/2018 Economic Genius After reading the Taking sides “The Hamiltonian Miracle” by John Steele Gordon. I have concluded that Alexander Hamilton is an economic genius of his time. According to John Steele Gordon, Hamilton’s knowledge of public finance helped him set a course for the American economy in a way that nobody else could.