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Quote by Alexander Hamilton

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The Federalist, on the New Constitution

Written by Alexander Hamilton, James Madison, and John Jay, this collection of essays provides a comprehensive defense of the proposed Constitution. It delves into the rationale behind the structure of the federal government, the balance of power among its branches, and the importance of federalism. The Federalist Papers are considered essential reading for understanding the philosophical underpinnings of the American political system. more

Author

Alexander Hamilton
Alexander Hamilton

Alexander Hamilton was a Founding Father of the United States, born on January 11, 1757, and died on July 12, 1804. He played a crucial role in the American Revolutionary War and was instrumental in the drafting of the U.S. Constitution. As the first Secretary of the Treasury, Hamilton promoted fiscal stability and economic growth, establishing the First Bank of the United States and proposing solutions for federal debt. His ideas and policies had a profound impact on the early political and economic development of the United States. more

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“But the greatest obstacle of all to the successful prosecution of a new branch of industry in a country, in which it was before unknown, consists . . . in the bounties, premiums, and other aids which are granted, in a variety of cases, by the nations, in which the establishments to be imitated are previously introduced.”

“There is at this present juncture, a certain fermentation of mind, a certain activity of speculation and enterprise which if properly directed may be made subservient to useful purposes; but which if left entirely to itself, may be attended with pernicious effects.”

“The tendency of a national bank is to increase public and private credit. The former gives power to the state, for the protection of its rights and interests: and the latter facilitates and extends the operations of commerce among individuals. Industry is increased, commodities are multiplied, agriculture and manufacturers flourish: and herein consists the true wealth and prosperity of a state.”

“It should be our endeavor to cultivate the peace and friendship of every nation . . . . Our interest will be to throw open the doors of commerce, and to knock off all its shackles, giving perfect freedom to all persons for the vent to whatever they may choose to bring into our ports, and asking the same in theirs.”

“I own myself the friend to a very free system of commerce, and hold it as a truth, that commercial shackles are generally unjust, oppressive and impolitic - it is also a truth, that if industry and labour are left to take their own course, they will generally be directed to those objects which are the most productive, and this in a more certain and direct manner than the wisdom of the most enlightened legislature could point out.”

“The defect of power in the existing confederacy, to regulate the commerce between its several members is in the number of those which have been clearly pointed out by experience . . . . A very material object of this power was the relief of the States which import and export through other States from the improper contributions levied on them by the latter.”