He's Not Throwing Away His Shot

On January 11, 1957, what would be the greatest economist was born. Who would eventually stir controversy through the United States. Who would create somewhat of a paradox system. Who would  eventually make the United States what it is today. Alexander Hamilton would change everything. 

At the age of 12 young Alexander worked as a clerk at a general store. Excelling in school (especially essay writing) and dreaming of college. At the age of 17 he went to Kings College and grasped a firm understanding of politics and economics, within the British and American realms. By 19 he was in the military and on March 14, 1776 he would create his own military company. He served 4 and a half years as a military secretary. Moving up to President Washingtons advisor and was put in charge of military design. 

In 1788 Alexander Hamilton was voted in as Secretary of State. Villainous Business said," Hamilton had to devise rudimentary systems for book keeping, checking and auditing." For the next few months Hamilton went through endless stress. His second day in office he demanded that all customs collectors send him the exact number of duties accumulated in each state. He received back extremely low numbers and decided to do something about it. Hamilton decided the first way to solve this problem to eliminate the use of coins and print paper currency instead. 

Over a few weeks Hamilton and many discussions with George Beckwith, a British diplomat. Hamilton was very pro-British and everyone knew it. Eventually wanting a commercial treaty. Though dreaming of an alliance, the movement wasn't really moving. Hamilton vetoed the movement but noted the States formed well the British. He still strongly believed the U.S. should trade with the British. He would eventually become the most influential figure due to his foreign policy. 

Hamilton believed in debt. In fact he liked it. In his "Report on Public Credit" he put in a detailed plan about his political and economic freedom. He also said government debt was the "price of liberty". Through low taxes and borrowing money the national debt rose to $79 million. (If only they could see the debt now). Hamilton honored the debt because it drew a line between public and private morality. Borrowing money we could afford boosted the economy. "America was a young rich country in opportunity." And he noted that if the federal government owed the money back to bond holders then the shift would go to the central government, insuring the governments stability. So he decided  that foreign debt was to be paid and full. While domestic debt was to be a greater dilemma. He put taxes on wines, tea, and coffee.  Thus creating "sin taxes". Luxury items, often times being foreign. Hamilton boldly stated that a well funded debt would be a "national blessing". "It was a stunning affirmation of confidence in the new government. Interest rates were tumbling and faith in America credit was being restored" said Villianous Business. 

Following Hamiltons 51 page economic plan reading, people went crazy. Everyone had their own opinion, including James Madison. Madison and Hamilton had a debate on February 20. "Hamilton had marshaled his forces effectively, whereas Madison had proven clumsy and inflexible." The House  of Representive voted against Madison with a 36-13 vote. Hamilton said "I go on the principal that a public debt is a public curse." Cursed he was. Hamilton died on July 11, 1804 in a duel. 

Alexander Hamilton is more than just a musical. He was an economic intellectual with many of his systems still in the works today.