Alexander Hamilton: Father of American Finance.

Alexander Hamilton: Father of American Finance.

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Alexander Hamilton: Father of American Finance.

Born in the mid-1700s in relative poverty, Alexander Hamilton rose to prominence as one of America’s founding fathers and the first treasury secretary of the United States. He founded the nation’s financial system, the Federalist Party, the United States Coast Guard, the New York Post newspaper, and he was the main author of the economic policies of George Washington’s administration. Furthermore, as the first Secretary of the Treasury, he achieved numerous goals which were necessary for the development of the American economy.

 

“Exceptionally Rare Autograph Letter Signed By George Washington To Revolutionary War Ally Jean-Baptiste Donatien De Vimeur, Comte De Rochambeau. 

 

Shown above is an exceptionally rare  George Washington Letter, written to French ally Jean-Baptiste Donatien de Vimeur, comte de Rochambeau, whose military assistance in the Siege of Yorktown essentially ended the Revolutionary War. The body of the letter is entirely in the hand of Hamilton and dated 10 April 1781. During the Revolutionary War, Hamilton became a lieutenant colonel on Washington’s staff and carried out many duties, such as managing correspondence. In the spring of 1781, officials from Massachusetts approached Rochambeau with a proposal to attack the British post at the mouth of the Penobscot river which had been established in June 1779 to secure timber for shipyards in Halifax and to protect Nova Scotia from any American advance.

On April 6, Rochambeau informed Washington that he was willing to send a detachment of troops and that Admiral Destouches would offer naval assistance, but observing that he was under Washington’s command, he would await his approval before approving the action (Rochambeau to Washington, 6 April 1781, Papers of George Washington, Library of Congress). Washington here responds via Hamilton, offering his gratitude and further advice. Exceptionally rare and desirable, being the only communication between the storied commanders of the Yorktown campaign to appear at auction in more than a century.

 

President George Washington’s 18th century gold frame spectacles; gifted by him to his protégé Alexander Hamilton.

 

Despite their contrasting personalities and differing backgrounds, George Washington and Alexander Hamilton were a highly successful team, first in the fight for American independence and later in establishing the principles of the young country’s government. Hamilton first attracted Washington’s attention during the decisive Battles of Trenton and Princeton. In 1777, Washington promoted him to lieutenant colonel and invited him to serve as his senior aide-de-camp, a position he would hold for four years. As Washington’s chief staff aide, Hamilton handled letters to Congress, state governors, and the most powerful generals of the Continental Army; he drafted many of Washington’s orders and letters at the latter’s direction and eventually issued orders from Washington signed in his own name.

Hamilton was involved in a wide variety of high-level duties, including intelligence, diplomacy, and negotiation with senior army officers as Washington’s emissary. When Washington was inaugurated on April 30, 1789, he appointed Hamilton as Secretary of the Treasury. Washington’s first term was largely devoted to economic concerns, in which Hamilton had devised various plans to address matters. When Washington declined to run for a third term of office, he sent the draft of his Farewell Address to Hamilton who who did an extensive rewrite, while Washington provided final edits.

Exceptionally rare first edition of The Federalist; one of only 500 copies published and one of the rarest and most significant books in American political history

 

In 1786, Hamilton led the Annapolis Convention to replace the Articles of Confederation with the Constitution of the United States, which he helped ratify by writing 51 of the 85 installments of The Federalist Papers.

“When Alexander Hamilton invited his fellow New Yorker John Jay and James Madison, a Virginian, to join him in writing the series of essays published as The Federalist, it was to meet the immediate need of convincing the reluctant New York State electorate of the necessity of ratifying the newly proposed Constitution of the United States. The 85 essays, under the pseudonym ‘Publius,’ were designed as political propaganda, not as a treatise of political philosophy. In spite of this, The Federalist survives as one of the new nation’s most important contributions to the theory of government” (PMM, 234).

The Federalist “exerted a powerful influence in procuring the adoption of the Federal Constitution, not only in New York but in the other states. There is probably no work in so small a compass that contains so much valuable political information. The true principles of a republican form of government are here unfolded with great clearness and simplicity” (Church 1230). “A generation passed before it was recognized that these essays by the principal author of the Constitution and its brilliant advocate were the most authoritative interpretation of the Constitution as drafted by the Convention of 1787. As a commentary and exposition of the Constitution, the influence of the Federalist has been profound” (Grolier American 100, 56)

 

Rare First Edition Of Hamilton’s Reply To Wood. 

 

Published in 1797, Hamilton’s Observations on Certain Documents Contained in No.V & VI of “The History of the United States for the Year 1796,” in which the Charge of Speculation against Alexander Hamilton, Late Secretary of the Treasury, is Fully Refuted remains one of the major causes célèbres in American governmental history, Hamilton resigned as Secretary of the Treasury in 1795; two years later “a baseless accusation against his honesty as secretary of the treasury, brought by Monroe and others, forced him to make public confession of his intrigue some years previous with a Mrs. Reynolds … [his confession] had the merit of a proud bravery, for it showed him willing to endure any personal humiliation rather than a slur on his public integrity” (DAB). Mrs. Hamilton tried to buy up all copies of the 1797 pamphlet, but some escaped. In 1800, in the midst of the Jefferson-Burr election, anti-Federalists such as William Duane reprinted Hamilton’s admission of infidelity. This first edition of 1797 is rare, as the Hamilton family attempted to suppress it, despite its later reprinting by Hamilton’s political enemies. While the publication of this document affected Hamilton’s personal life, he continued to be an influential public figure amongst Federalists.

 

Rare letter of Alexander Hamilton, dated April of 1799.

 

Hamilton’s fastidious management extended beyond his work in the government. Pictured above is a rare autograph Alexander Hamilton Letter, written to the trustees of Isaac Riley, notifying them of the manner in which he will submit a mortgage payment despite Riley’s imprisonment. One page, folio, dated 2 April 1799, the letter reads, “I am informed that You are Assignees of Isaac Riley under the Insolvent Act. Some time since I purchased of Isaac Riley Eight lots in the Outward upon which as he then informed me there was a mortgage to Ebenezer Young for Two hundred & forty pounds which was deducted out of the purchase money & left to be paid by me pursuant to the Tenor of that mortgage.

It appears that this mortgage was not recorded till within a fortnight past. In my opinion This will not defeat the right of Mr. Young’s Representations to receive payment from me in preference to the Trustees. But I have thought it right nevertheless to mention the affair to you. If I do not within four days from the date of this letter, being the second of April, receive notice of a claim from the Trustees with the assurance of an Indemnification… I shall act as if no such claim was intended to be made.” The Insolvent Act Hamilton here refers to was passed into law one day prior to this letter in New York State as “An Act to amend the Act entitled an Act for the relief of Debtors with respect to the Imprisonment of their Persons” and allowed a debtor lawfully imprisoned by his creditors to be liberated.  In near fine condition. The entire piece measures 24 inches by 13 inches.

 

Finely bound complete set of Hamilton’s works.

 

An extremely productive writer as well as statesmen, Hamilton wrote numerous treatises on behalf of the new government alongside his years of correspondence with various officials. The Connoisseur’s Federal Edition, pictured above, is a full collection of Hamilton’s works, one of only 100 sets. An exceptional collection, reflecting Hamilton’s multiple roles as American statesman, politician, legal scholar, military commander, lawyer, banker, and economist

Before his death at the hands of Aaron Burr in 1804, Hamilton had successfully managed the federal government’s funding of the states’ debts, 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. These particular economic achievements reflected Hamilton’s desire for long term security and strength for this country he helped found. By securing a central government led by a vigorous executive branch, a strong commercial economy, support for manufacturing, and a thriving military, Hamilton ensured the endurance of America as a new nation. To discover more of Hamilton’s literary legacy, search here.

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