Alexander Hamilton Quotes


But though a funded debt is not in the first instance, an absolute increase of Capital, or an augmentation of real wealth; yet by serving as a New power in the operation of industry, it has within certain bounds a tendency to increase the real wealth of a Community, in like manner as money borrowed by a thrifty farmer, to be laid out in the improvement of his farm may, in the end, add to his Stock of real riches.


Citations

Hamilton, Alexander. "Report on the Subject of Manufactures." The Papers of Alexander Hamilton, vol. 10, edited by Harold C. Syrett, Columbia University Press, 1966, p. 275.

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Alexander Hamilton
Alexander Hamilton
  • Born: January 11, 1755
  • Died: July 12, 1804
  • Nationality: American
  • Profession: Politician

Alexander Hamilton was an American statesman, politician, legal scholar, military commander, lawyer, banker, and economist. He was one of the Founding Fathers of the United States. He was an influential interpreter and promoter of the U.S. Constitution, as well as the founder of the nation's financial system, the Federalist Party, the United States Coast Guard, and the New York Post newspaper. As the first secretary of the treasury, Hamilton was the main author of the economic policies of George Washington's administration. He took the lead in the federal government's funding of the states' debts, as well as establishing the nation's first two de facto central banks, the Bank of North America and the First Bank of the United States, a system of tariffs, and friendly trade relations with Britain. His vision included a strong central government led by a vigorous executive branch, a strong commercial economy, government-controlled banks, support for manufacturing, and a strong military.