Alexander Hamilton Quotes
While property continues to be pretty equally divided, and a considerable share of information pervades the community, the tendency of people’s suffrage will be to elevate merit even from obscurity. As riches increase and accumulate in a few hands, as luxury prevails in society, virtue will be in greater degree considered only as a graceful appendage of wealth, and the tendency of things will be to depart from the republican standard.
Alexander Hamilton, 1755-1804, Aide-de-camp to General Washington, Member of the Continental Congress and the Constitutional Convention, U. S. Secretary of the Treasury (Federalist, NY), Remarks to the New York State Convention
Sourced by: Eigen's Political and Historical Quotations
Worry about the disproportional power of the rich is not a modern concern, but was a concern from the very beginning of the nation. There was a belief that if there were a legislative body representing the entire population the rich would tend to dominate it. The solution that England had found was a bicameral Parliament—a House of Lords representing the wealthy and the powerful and the House of Commons, representing the bulk of the people. America followed suit but never did have the class distinction of England.
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.