Rarely does a single person stand out as much when solving a problem as Alexander Hamilton did after being appointed Secretary of Treasury on the late 1700s. Our country had a great deal of problems with national debt after the Revolutionary War, Hamilton created one of the best financial foundations ideas for our economy, that could bring us to a great economic power at the nation’s early stages of development. His economic ideas were centered around the philosophy of «Hamiltonianism», which he stated, «Give all power to many and they will oppress the few. Give all power to the few and they will oppress the many. Both therefore ought to have power, that each may defend itself against the other.» He understood that when one group has too much power they can become dangerous, so he wanted to spread it out.
His initial plans to get the country to such high standards were to redeem the old national debt, and then he would have a plan to nationalize the states’ debt with issued bonds. These bonds gave America a higher credit rating than any other country in Europe. His last idea was to have a central bank in America, which would act as a reservoir for government funds, and the bank could also transfer these funds across the world to other countries. Getting the bank in existence was a hard bill to pass, but when it finally did, it helped greatly in developing early American economy.
John Steele Gordon selected this story to describe this time period because it was one of the first things that America had done to make it such a leading world country that it is today. This is the story of our country becoming one of the worlds leading powers, and Alexander Hamilton is the leading factor for this movement. At the time, America was in extreme debt after the American Revolution. Hamilton did everything he could to get the country back on its feet, with motions that included a bank system, refunding the national debt, and tariffs had to be collected, also the government had to make a system so they could borrow when needed. In the next two years, Hamilton, almost single-handedly started America’s financial progress. Without him, America may never been able to stay independent from Britain because of their horrible financial situation before Hamilton.
When our founding fathers were establishing the principles for the American life, some of these men stood out more than others. The most important men were the ones that came up with the intelligent and insightful ideas for our government that our country is most centered around. Alexander Hamilton is one of the founding fathers that made his mark in history when he created a foundation for the American economy. His ideals which consisted of his doctrine for implied powers, which may have been the basis for the development of the nation’s government. And also, his ideals for the economy which consisted of a national bank, and his ideas in, » Report on the Public Credit» were genius because they were so innovative at the time. These ideas really made a mark on history because they have stayed in our government for over 200 years. Not only did he recover our initial problems with debt, he also set standards that have yet to be overtaken by a better conception. His standards are still around today, which shows how important his visions really were.