Joyanna Adams

Nobody's Opinion

Nobody Remembers Alexander Hamilton

Nobody Remembers…Alexander Hamiton two

So, how did we get into this fine mess that we find ourselves in? How did the big money corporations and elites of Harvard and Yale, end up ruling over all the rest of us?

It goes waaaay BACK to Alexander Hamilton, and the beginning of the country: Hey, nothing is new under the sun is it?Continentals

The Revolutionary War, was like all wars, expensive. We started out in deep dept.

From the History of the American People: 

In 1775 Congress authorized an issue of $2 million of bills of credit called Continentals to finance the war. By 1779 (December) $241.6 million of Continentals had been authorized. This was only part of the borrowing, which also included US Loan Certificates, foreign loans, bill of credit issued by the states, and other paper debts. Together they produced the worst inflation in United States history. By 1789 the Continentals were virtually valueless. By 1987 the debt had risen to $40 million domestic and $13 million Foreign.

(Sound familiar? How much did the Iraq war cost? A few trillion?)

Hamilton suggested that Congress gave one dollar for every hundred to the embittered people counting themselves lucky to get anything. And then he suggested that the Federal government take on all the debts of the states.

And so, Hamilton managed to pull the United States out of debt, with enough money to give Jefferson the means to make the Louisiana Purchase. BUT…the country was middle class, and was growing, and rich by most standards. Hamilton was looking good.Alexander Hamilton

But he didn’t stop at that:  Hamilton kept going. He convinced Congress that we needed a national money supply and so Congress chartered the Bank of North America as the first private commercial bank in the country and the first to get government incorporation. The bank opened in Philadelphia in 1782, and Franklin, Jefferson, Hamilton, James Monroe, and Jay were among its original stockholders and depositors. Hamilton wanted it to be more like the Bank of England. He wanted a board of 25 men, a main office and eight branches, serving as the government’s fiscal arm.  Most of its stock was held by the government which was also its principal customer.

(Sound like the Federal Reserve?)

When Jefferson saw the concentration of power that this empire building was going to bring about, he protested against it.   Jefferson was from wealth, and Hamilton was from poverty. So, while Jefferson wanted to curtail the growth of centralized moneyed government, Hamilton wanted to expand it. In fact Hamilton despised the poor. Especially the farmers, who hated the banks.

Hamilton wanted an elite an aristocracy to keep “the turbulent and uncontrollable masses” in subjection. But the elite had to be tough-minded, motivated by its own self interest. And because he wanted the elite to rule, Hamilton wanted a permanent senate who served for life, like a House of Lords. And it was this establishment of the Central bank that started the split of the countries into “parties.”

“Two parties began to form, in the new state, North versus South, farmers versus manufacturers, Virginia versus Massachusetts, states’ rights men versus federalist centralizers, old versus new. Jefferson protested that he had no wish to found a party.

“If I could not go to heaven but with a party, I would not go there at all.” Thomas Jefferson. 

But that is what, in the 1790s, he did.Alexander Hamiton three

Hamilton was believed to be the founding father of the Republican Party. Jefferson, the Democrats, and we have forever been troubled by the lot of them ever since.

Nobody Wonders if Bill “Jefferson” Clinton added that middle name sometime in his life, to give himself political points.

What? Do you really think he was born with it?

HA! I want to see THAT birth certificate.

 

August 20, 2015 - Posted by | American History, Uncategorized | ,

1 Comment »

  1. “Hey, nothing is new under the sun is it?” It sure seems that way. Thanks for the history lesson.

    Like

    Comment by snopercod | August 21, 2015 | Reply


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