Sublime

One of Hamilton’s first decisions as secretary of the Treasury was to ask Congress to establish America’s creditworthiness in the eyes of American and foreign creditors by taking over the debt of the states.

In his report, Hamilton championed several controversial measures. Some original holders of the wartime promissory notes, including many Continental Army veterans, had sold them after the war at a tiny fraction of their face value, believing that they would never be repaid in full. Hamilton planned to redeem them at face value and wanted current

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when it came to the parallel economic upheavals of the period—the industrial revolution, the expansion of global trade, the growth of banks and stock exchanges—Hamilton was an American prophet without peer.

In 1791, under the auspices of Secretary of the Treasury Alexander Hamilton, the federal government imposed a Whiskey Tax intended to help repay the young republic’s debts. Hamilton also hoped it would drive small rural producers out of business in the favor of larger ones. It was one of Hamilton’s less laudable ideas, and the residents of