~ Secretary of the Treasury ~
He proposed, therefore, to pay the nation's debts in full and also to assume the unpaid debts of the various states. He urged this candidly as a means of both diminishing the fiscal importance of the states and cementing the loyalty of wealthy commercial interests to the federal government. With the nation's economy thus buttressed and biased toward commerce, Hamilton proposed that a national bank be established to help the federal government manage the nation's trade and finance. These proposals were accepted by Congress, and the Bank of the United States was chartered in 1791. His recommendations for a broad range of tariffs and bounties to stimulate the growth of manufacturing were not adopted at this time, however.
Hamilton's plans were so comprehensive and so brilliantly useful to commercial expansion that he aroused the opposition of Madison, Jefferson, and others who believed that such a strong government, informally allied as it was with the worldwide trading dominance of Great Britain, would subordinate agriculture and subvert the republican ideals of the American Revolution. Scorning the Jeffersonians as timid and backward-looking, Hamilton, with Washington's continuing support, organized a congressional majority for his policies.
He then took the lead in urging rapprochement with Great Britain, which culminated in Jay's Treaty (1794), and in firmly suppressing the so-called Whiskey Rebellion (1794), which was provoked by his excise taxes. By the time he retired from the Treasury Department in 1795, he had established the administrative and policy foundations of the new government, articulated a philosophy of "loose construction" of the Constitution, and founded, informally, the conservative Federalist Party as the instrument of his intentions.
~ Later Years ~
On leaving the government Hamilton resumed a busy and lucrative law practice. He continued to have a strong influence in the public councils, however. He supported a defiant posture toward France during the XYZ Affair (1798), and as inspector general of the army (1798-1800) he took charge of organizing the nation's defenses. Bitterly disappointed in President John Adam's erratic leadership, Hamilton openly opposed Adams's reelection in 1800. When it appeared, however, that Aaron Burr might win the presidency over Jefferson, Hamilton unhesitatingly threw his support to Jefferson, whose policies he scorned, rather than to Burr, whom he regarded as a man without principles.
This and other opposition by Hamilton so frustrated and angered Burr that he challenged Hamilton to a duel. The two men fought at Weehawken, N.J., on July 11, 1804. Hamilton apparently fired into the air, but Burr took direct aim. Hamilton fell mortally wounded and died the next day in New York. He was buried in Trinity churchyard, New York City. He left his wife and seven children heavily in debt, but friends soon paid off the debts. Hamilton was mourned by his countrymen as one who had devoted his life to the nation's growth in freedom and prosperity
Alexander Hamilton
More flattering than his worth, in my opinion. I must remember to visit his grave. I owe Burr a beer in the next life.