Often referred to as the Father of the United States Financial System, Alexander Hamilton is one of the few Founding Fathers who does not have a major monument in his honor. Perhaps it is because of the fact that he died while dueling against Aaron Burr, or because of his sometimes caustic personality, or perhaps because he was often the target of rumors and scandal. Whatever the reason, many have responded that if Alexander Hamilton does not a specific monument, the existence of the United States itself is the greatest monument to Alexander Hamilton’s vision of a powerful and rich future based on free commerce and industry.
Alexander Hamilton was born under humble circumstances on the Caribbean island of Nevis in 1755. After financial difficulties, his mother moved to the Virgin Island where she owned a small shop. He grew up poor, and with little opportunities. All the same Alexander Hamilton was noticed by some important residents of the island, and was given a scholarship to go to New York to study. He arrived in tumultuous times. Revolution was in the air, and Hamilton immediately gravitated to the revolutionary cause.
When the American War of Independence began, Hamilton was in the thick of it. His cool head and professional demeanor drew the attention of General George Washington. Soon Hamilton became Washington chief aide. During the Battle of Yorktown, Hamilton was given command of one of the assault teams that overran a vital British fortification, and Hamilton became a hero of the Revolution.
When the war was over, Alexander Hamilton returned to New York and completed his studies to be a lawyer. His law practice thrived, but Hamilton himself was deeply dissatisfied. He saw the loose confederation of states that existed after the Revolution and its weak central government as a terrible danger that would lead the newly independent nation to disaster. As such he was one of the first proponents of strengthening the federal government. When a Constitutional Convention was called, he was one of the delegates from New York and actively participated in the drafting of what was to become one of the most important documents in the history of mankind. It was during the ratification process of the Constitution that Hamilton’s star shone brightest. Of the three authors who contributed to the vitally important Federalist Papers, Hamilton’s contribution was by far the most profound.
After the Constitution was adopted, in large measure due to the efforts of Alexander Hamilton, George Washington was elected President. Alexander Hamilton became the first Secretary of the Treasury, and inherited a financial catastrophe. The country was heavily in debt, had no established method of raising revenue, and was close to ruin. His tireless efforts created the first tax system, encouraged a “national” economy, and helped to stabilize the financial markets at a time when chaos was the norm.
Soon Alexander Hamilton became leader of the Federalist Party, a position which brought him into direct conflict with the Republicans led by Thomas Jefferson. The animosity between Hamilton and the Republicans initially stemmed from differing ideologies and visions on how the United States should be governed, but soon grew to profound personal hatreds that went far beyond simple ideological rifts. In the end, Aaron Burr, a frustrated Republican, challenged Hamilton to a duel in July of 1804, and with one shot ended Alexander Hamilton’s life.
