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HAMILTON, ALEXANDER.
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Political & economic thought & career of Founding Father, major victories & losses, differences with Jefferson, impact on govt.... More...
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Paper Abstract:
Political & economic thought & career of Founding Father, major victories & losses, differences with Jefferson, impact on govt.
Paper Introduction:
One delegate to the Constitutional Convention of 1787--Alexander Hamilton
--is both revered and questioned among American scholars, depending on one’s viewpoint of the value of democracy. This research examines these opposing feelings toward Hamilton.
Alexander Hamilton voiced the indignation felt by many of his contemporaries of the weak national authority under the Articles: “There is something diminutive and contemptible in the prospect of a number of petty states, with the appearance only of union . . . without any determined direction, fluctuating and unhappy at home, weak and insignificant by their dissension in the eyes of other nations” (Rossiter 45).
Hamilton understood the extent of dissatisfaction with the Articles and drafted a report, signed by 55 prestigious leaders
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About 8 % ofdomestic federal payments went to states north of the Mason-Dixie line andmost of the remainder went to South Carolina (Polakoff 31). Thomas Jefferson reflected the school thatexcessively centralized government was a threat to democratic principles,claiming that Hamiltonian federalists planned on "sliding us into monarchy"(Hofstadter 126). Ironically, it was AlexanderHamilton who cast the deciding vote enabling Jefferson to break a tie withcompetitor Aaron Burr in the House of Representatives to win election asPresident. Hamilton represented the fear of too much democracyresulting in anarchy and the violation of property rights. In order to compromise with the majority sentiment for somepopular participation in government, Hamilton proposed that the peopleshould be represented in one house of the national legislature by allowingall white males to cast votes for their representatives in the House ofRepresentatives. New York: MacMillan andCompany, 1966. The delegates were sharply split over what form of governance wouldwork best in the United States. In the course of Washington's Administrations, Hamilton defined hisvision for American government and recruited support from congressionalmembers. Givetherefore to the first class a distinct, permanent share in the government.They will check the unsteadiness of the second and as they cannot receiveany advantage by change, they therefore will ever maintain good government"(Farrand 412). Only eight of the signers of the Declaration of Independenceattended the Constitutional Convention; and only four of these finallysigned the U.S. James Madison championed southern interests in blockingthe assumption plan in Congress. Hamilton wanted as little democracy aspossible. Hamiltonianshad secured a monopoly on the press in the capital area until Jeffersonresponded and financed a competitive newspaper. Alexander Hamilton clearly fell into this latter group. This, of course, was an aristocratictheory designed to keep the public from directly electing the Presidentwhile placing the actual decision in the hands of the propertied interests.Hamilton explained in the Federal Papers that the President would be chosen"by those persons capable of analyzing the qualities and adapted to thestation and acting under circumstances favorable to deliberation" (Rogersand Harrington 75). Hamilton's policy of full payment of foreign and domestic war debtsat par value of the bonds was the first issue to generate controversywithin the Federalist faction. Speculatorswho felt assured that the new federal government, especially under theguidance of Hamilton as Secretary of the Treasury, would pay the debts nowclaimed by many secondary investors, who bought the bonds at a fraction oftheir face value from impoverished or nervous original holders (planning toredeem them later at a considerable profit). "The Young Republic." In Louis Wright (Ed.), The DemocraticExperience. In contrast to Jefferson's philosophy, Hamilton held the citizenryin low regard, speaking of the "ordinary depravity of human nature." Anatural aristocracy of virtue and talent was seen as manifesting itself inthe aristocracy of wealth (Rossiter 61). He viewed popular participationwith distrust, touting the system of checks and balances as a means of thenatural aristocracy to resist the anti-property demands of the masses. The American government under the Articlesof Confederation declined to honor many of these obligations. Constitution. Palo Alto: Scott, Foresman and Co.,198 .Hofstadter, Richard. Palo Alto:Scott, Foresman and Co., 1981.Rossiter, Clinton. America's Democracy. The final compromise amongthe delegates, now codified as the U.S. . Records of the Federal Convention. He argued that the states should beabolished altogether and replaced by one national government as in GreatBritain. Aaron Burr became soirate at his lost opportunity to become President that he challengedHamilton to a duel and killed him. Hamilton and Jefferson had been dueling for political dominance atthe elite level for more than a decade. Constitution, involves a republicanform of government, rather than pure democracy, with a series of checks andbalances in the national government, further restrained by a federalistsystem of government between the national government and the states.Nevertheless, Hamilton's influence was strong. Mostdelegates envisioned a form of republican government with checks andbalances to protect minority rights. The first are therich and well-born, the other the mass of the people. Madison finally agreed to allow Hamilton'sassumption plan to pass Congress in exchange for a promise to move thenation's capitol from New York to Virginia at a place of GeorgeWashington's choosing (which explains why the capitol is situated just 12miles from Mount Vernon). Palo Alto: Scott, Foresman and Co., 1968.Polakoff, Keith. Following ratification of the U.S. The only safegovernment, many delegates felt, was one guided by the wealthy andintellectual elite who could be counted on to protect property rights.Hamilton expressed this anti-democratic sentiment quite bluntly: "Allcommunities divide themselves into the few and the many. The U.S. Constitution, Hamilton remainedcommitted to a strong national government, not unlike the British monarchy,whose primary function was to build a national economy by promoting thedevelopment of wealth and the protection of property rights (Nye 79). Tothis end , he drafted three treatises proposing national economic policies.These policies included: full payment of war debts; federal governmentassumption of unpaid state debts; the creation of a national bank; andestablishing protective tariffs and excise taxes. It would take years before Jefferson was prepared to come out ofretirement and run for President himself. Berkeley: University ofCalifornia Press, 1969.Nye, Russel. without any determineddirection, fluctuating and unhappy at home, weak and insignificant by theirdissension in the eyes of other nations" (Rossiter 45). Alexander Hamilton voiced the indignation felt by many of hiscontemporaries of the weak national authority under the Articles: "There issomething diminutive and contemptible in the prospect of a number of pettystates, with the appearance only of union . These delegates met at Independence Hall in Philadelphia and closedtheir doors to the public and the press. Most of the southernstates had already honored their war obligations under the Articles ofConfederation. James Madison offered anamendment to Hamilton's proposal to redeem securities at par value only fororiginal holders. Hamilton's natural constituencygave him a substantial advantage in establishing a dominant faction amongthe men of wealth and property that represented federal government.Jefferson managed his populist coalition surprisingly well, but in the endHamiltonian federalists clearly monopolized the halls of federal governmentand the White House. Despite the tremendous animosity between Hamilton and Jeffersonon ideology and the appropriate form of government in the United States,Hamilton viewed Burr as a dangerous opportunist. Similarly, direct popular election of the Presidentalso avoided by the Electoral College. Thehighest order of government, according to Hamilton, was not only to protectproperty rights, but to promote the development of propertied interests.The nation as a whole would benefit from enhancing the position of the few:"the aggregate prosperity of manufactures and the aggregate prosperity ofagriculture are intimately connected" (Rossiter 61). In fact, there had been a few instances in which statelegislatures, directly accountable to the voting public, dissolved somedebts in response to demands from farmers and the poor. New haven: Yale University Press, 1927.Harris, Fred. Senate, forexample, was not originally elected by the people; senators were chosen bythe state legislatures. Hamilton also spearheadedthe practice of electioneering strategy that helped secure federalistcongressional candidate victories in several key districts. Most delegates agreed more or less with Hamilton's sentiment, but fewwere willing to go as far to protect property rights as Hamilton. At least 4 of the 55 delegates were holders of publicsecurities; 14 were known to be land speculators; 24 were money lenders andinvestors; 11 were in commerce and manufacturing; and 15 owned largeplantations. Thus, there was agreat deal of discussion at the convention about the inevitable "leveling"of property that could result from an excess of democracy. Hamilton's plan for the federal government to assume all unpaid statedebts further exacerbated rifts among the federalists. James Madison reported that Hamilton hadno scruple in declaring that the British government was the best in theworld, and that he doubted whether anything short of it would do inAmerica. . Hamilton understood the extent of dissatisfaction with the Articlesand drafted a report, signed by 55 prestigious leaders from several states,outlining its defects and calling for a convention to recommend remedies toCongress. But he proposed to restrain the authority of this house byhave a co-equal Senate, chosen for life based on wealth and prestige, likethe British House of Lords. Unfinished Democracy. Needless to say, Hamilton did not win this floor debate. Political Parties in American History. One delegate to the Constitutional Convention of 1787--AlexanderHamilton--is both revered and questioned among American scholars, depending onone's viewpoint of the value of democracy. In this way, Hamilton essentially proposed an form of governmentbest described as an "elected monarchy" (Harris 4 -41). While most had agreed that reforms weredesirable, there was little agreement on which types of reforms were best.Most of the delegates firmly believed in some form of republicangovernment; a few believes in a pure democratic form of government; andsome were far more interested in protecting property rights than ensuringpolitical rights. This research examines theseopposing feelings toward Hamilton. Following Washington's unanimous reelection to asecond term, Thomas Jefferson felt ineffective in office and decided toretire to his estate in Monticello. The Idea of a Party System. New York: Wiley andSons, 1981.Rodgers, Harrell, and Michael Harrington. This unelected Senate, in turn, would select a"President for Life"--presumably one from among the ranks of the wealthyelite. Even though the Electoral College still selects thePresident and tends to be dominated by wealthy individuals, the rise ofpolitical parties has encouraged Electors to vote the same way the peoplevoted for President. 1787, The Grand Convention. Since most citizens in 1787 were poor and without property, most ofthese delegates were afraid that if the citizenry had too much control overgovernment, the majority might threaten the property rights of the wealthyminority. This set of economic programs provided the impetus for the firstclear signs of organized opposition in Congress that later formed thenation's original parties. He had already invented the legislative caucus in179 and used it with increasing effectiveness to influence congressionalvotes. They then went to work in draftingwhat was supposed to be little more than amendments to the Articles ofConfederation, but which quickly turned into a runaway convention as thedelegates embarked on a far bolder plan to revise the entire constitution.Delegate after delegate offered their own ideas as to a better, new form ofAmerican government. But heundoubtedly had influence over the proceedings. In the end, Hamilton was completely correct. Alexander Hamilton took the floor of the convention and proposed hisideal form of American government. Rather than permit such anopportunist become President, Hamilton encouraged his fellow Federalists tocast their ballots for the decisively anti-Federalist Jefferson. Hamilton's plan was approved without amendment. James Madisondesired some of the order and economic discipline embodied by Hamilton'sphilosophy, but Madison also cherished much of the optimism in theindividual that Jefferson espoused. It was in the northern states where the urban poor was mostheavily concentrated that the bulk of war debts remained unpaid. Works CitedFarrand, Max. The people areturbulent and changing; they seldom judge or determine right. Throughout the bout between Hamilton and Jefferson duringWashington's unity government, Hamilton moved deftly to overshadowJefferson's influence. Jefferson responded likewise, generating voting patterns in theSecond Congress that closely followed the factional division. Hamilton'sassumption plan would require the south to disproportionately burden thecosts of the war. In the end Madison's fear that the south wouldcarry the financial burden of northern debts was confirmed. Some, like Hamilton, were not even committed to ademocratic system of government.
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