(from James Madison; A Biography by Ralph Ketcham) as Alexander Hamilton, the Secretary of Treasury promotes his plan for a national debt. . .
". . . Hamilton's candid admission that he intended the concentration in order to bring to the federal government a self-interested support he thought is desperately needed to become an effective means of government only increased Madison's apprehensions. Though the secretary expressed regret at the misfortunes of those whose interests suffered under his plans, he saw them as a small price to pay for the vital strengthening of the Union he thought made them necessary. As Madison observed the Hamiltonian "phalanx" in Congress, the eager support given the program in New York financial circles, the often arrogant comments by men of wealth about their superior capacity to lead and govern the country, and the tendency of backers of the secretary's report to exalt the executive over the legislative department, his concern for the survival of republican principles grew rapidly. Jefferson's famous charges, made in old age, that "Hamilton's financial system . . . had two objects; 1st, as a puzzle, to exclude popular understanding and inquiry; 2nd, as a machine for the corruption of the legislature," and that "men thus enriched by the dexterity of a leader [Hamilton], would follow of course the chief who was leading them to fortune. . . "
What do you think?
Tell me at
http://www.rayjozwiak.com/guestbook.html or at
http://www.ohomusic.com
My latest solo offering, No Frills, is now available at - No Frills
your browser: http://www.cdbaby.com/Artist/RayJozwiak)
Get your copy of OHO's Where Words Do Not Reach now!
The Ocean City Ditty Video is now on YouTube
Also, be sure to visit: www.rayjozwiak.com and www.ohomusic.com
