Remembering Hamilton’s greatness

Alexander Hamilton was, in my opinion, the founding father who contributed the most to the long-term development of the United States. Many will argue that George Washington or Thomas Jefferson contributed more. Although they contributed much toward American ideals and setting precedents for all presidents, Hamilton had a larger impact on the practical side of government.

Hamilton was a staunch Federalist, believing in a large central government. He was opposed to some of the Republican ideas, which were brilliant but may have failed to create a long-lasting country. Hamilton was able to take the main ideas integral to the American Revolution and make them practical enough for the United States to become one of the most powerful nations in the world. His practicality is typical of Federalists and is evident in his economic plan.

After the Constitution was ratified and Washington was elected president, Hamilton became Secretary of the Treasury. Hamilton’s methods left him unpopular, but his economic plan was perhaps the most important piece of legislation after the Constitution. It allowed America to grow into an economic powerhouse. After the Revolution, the individual states had amassed huge debts to various nations, with most owed to Britain and France. Most people would have claimed the debt as void and the spoils of war, but Hamilton realized that Britain had the most powerful economy in the world and would be a vital trade partner. He also understood that America had no national bank system as Britain did. American investors were investing more money in Britain than in America, which was very unhealthy for our economy. He decided that America needed to maintain relations with Britain and pay off the debt, while simultaneously keeping investors’ money in America.

To accomplish this, his plan created a $75 million national debt, with Congress agreeing to pay off the debts at par. Since we paid back our debts, other countries took us seriously, and American trade flourished. To fund the debt, Hamilton proposed selling government bonds, with the money earned being used to pay only the interest on the debt. The investors, who had been sending money overseas, began to invest instead in bonds and the money stayed in America.

Hamilton also had other motives with his plan. It assumed all state debts as national debt, tying the states monetarily to the central government, increasing its strength. Hamilton’s plan was a tremendous success, although many accused him of corruption. Shrewd investors and friends of Hamilton made enormous sums of money because of the plan.

Hamilton was not afraid to use whatever methods he deemed necessary to achieve his ends, but the results of his efforts directly affected the America we have today. Had it not been for the Federalists, the government would not have been strong enough to operate effectively and keep the states unified. Hamilton’s economic plan and central bank allowed America to grow. Had it not been for Hamilton, America would not have succeeded economically or grown powerful and stable enough to spread democracy.

This essay was written for the Sons of the American Revolution “Arthur M. & Berdena King Eagle Scout Scholarship,” submitted to the local Daniel Morgan chapter of the SAR. The scholarship requires that an essay be written on a topic of the author’s choice regarding a patriotic theme related to the American Revolution. Loomis is a homeschooled senior from Waynesboro.