SkullandChains Report This Comment
Date: November 09, 2010 04:59PM
Alexander Hamilton, founding father, first secretary of the treasure and leader
of the constitutional convention!
Mach Report This Comment
Date: November 09, 2010 08:53PM
As secretary of the treasury in President Washington's first cabinet,
Hamilton negotiated the first loan obtained by the new government on September
13, 1789. The $200,000 was obtained from the Bank of New York, a private
corporation underwritten by the Bank of England, against which the treasury
drew a series of warrants.
Those warrants constitute a milestone in establishing the credit of the new
United States government, albeit with continued economic dependence upon the
Bank of England. Hamilton's economic vision and firm grasp of banking
principles served the Bank of New York well.
Alexander Hamilton was a talented political figure in American history, but he
was prevented from achieving widespread recognition because of an overbearing
nature and an inability to relate to the concerns of the common man. His views
on the issues of favoring federal authority over the states rights, now
firmly established, are still argued today.
Edited 1 time(s). Last edit at 09/11/2010 09:02PM by Mach.