April 23, 2015
Alexander Hamilton (America’s Financial Genius)
Alexander Hamilton is mostly known for signing his name on the United States Constitution, but most people fail to admire his other accomplishments .“Hamilton is considered to be America’s “financial genius,” (Uschan 78). He was the founder of the financial system that we still use today. He was America’s first Secretary of the Treasury and was one of the great men who founded and established our government system. “Hamilton helped shape America for what it is today,” (Uschan 91). Hamilton was one of the few men trusted by George Washington in his cabinet, his main concern was to have a highly respected reputation. Hamilton is often considered the rival of Thomas Jefferson. For a while Jefferson promoted a democratic society, and sided with France in matters of foreign policy. Hamilton founded on secure financial principles, and he sought for the United States a government closer to the British model (Hecht 1).
Alexander Hamilton was supposedly born January 11, 1757 in the West Indian Island of Nevis. Hamilton’s mother and biological father separated when he was very young, which gave him a difficult childhood. His father abandoned him and his family when Alexander was ten, and his mother died three years later. Hamilton's intelligence, ambition, and remarkable business judgment inspired relatives and citizens to send Hamilton to a private school in New Jersey. He soon enrolled at King's College (now Columbia University) in 1773 (Web. 669). Hamilton married Elizabeth Schuyler, the daughter of American Revolution, Philip Schuyler. Shortly after Hamilton dropped out and began political writings opposing Samuel Seabury’s pamphlets promoting the Loyalists. He also continued writing pieces supporting his personal political party “the Federalist Party” (Ronemus 1995).
After Hamilton's heroic accomplishment in writing he was appointed an aide to General Washington. In this position his writing skills and keen sense of judgment would prove essential to the highest command in the army. During this time Hamilton recorded, "the many deserters coming in from the enemy showed them to be in desperate straits. Since the possibility that the French might enter the war in Europe would disincline the British from sending reinforcements overseas".
Followed by the recording Hamilton received on-the-job training and became accustomed to the cramped living style as a part of General Washington's staff. Once Hamilton got the grip of being a politic Hamilton knew that the country's economy was in danger of going belly-up if there was not a drastic change and clear establishment of federal control of the direction of the budding economy (Ronemus). This led Alexander Hamilton to create an economic plan obligated America to pay off its national debt, establish a national bank, and establish tariff rates. Hamilton just didn’t stop there. Hamilton also help shape the world with his law career and the, elections of Thomas Jefferson as president,
At the time that Hamilton became the Secretary of the Treasury, the nation was over fifty million dollars in debt, largely due to the costs of war and the foreign debts to accompany them. Hamilton's anticipation of global commerce in the decades and centuries to come fostered the creation of the Report on Public Credit. It was Hamilton's idea that the nation should pay off all war debts plus interest in full. This was a rather demanding goal for the economy (Uschan 100). Hamilton also wanted all state debts to be paid assumed by the Federal government, which he believed was the proper source of responsibility for financing national defense. Hamilton's vision for reshaping the American economy included a federal charter for a national financial institution. He proposed a Bank of the United States (US History.org). A central bank would help make the new nation's economy dynamic through a more stable…