Hamilfacts Part 3
Part 3 of our Hamilton series features “the room where it happens.”
Alexander served as the nation’s first treasury secretary and was presented with many challenges (Picture above is Lin in front of Alex's statue at the US treasury building in DC, which is right next to the White House). Not least of which was how to collect taxes from states who had no interest in paying and establishing a common currency. The northern states had massive debts from fighting most of the revolutionary war on their soil. The south didn’t have those debts, well, because slavery. Hamilton was very much a Federalist and believed in a strong central government to keep the union together. Jefferson was a constitutional literalist, and he believed Hamilton’s national bank plan was unconstitutional because the constitution didn’t say you could have one. Hamilton devised the financial model that we understand and use today and created a national bank to consolidate the state’s debts for the good of the union. The colleagues from the south, Jefferson & Madison, sat down over dinner with Hamilton to see if they could come to terms. The Virginians wanted the capital in the south, in their home state if possible, Hamilton needed to get a national bank & a financial plan passed. They compromised over dinner, as featured in the song below (pbs feature summary is first link), the southerners agreed to back Hamilton’s plan in exchange for his faction’s support of moving the capitol from New York to present day DC. In the song is lead by Burr, who’s hunger for power eventually leads him to kill Alexander. But it does a beautiful job of painting the picture of the complicated nature of the essence of compromise in politics.
Comments