A Blast From The Passed
 |
| Darioush Radmanesh |
A warning expressed by Thomas Jefferson regarding the very serious danger which Hamilton's Corporatism/Corporate Capitalist system posed to the freedoms and Liberties of America:
''Hamilton’s economic model was heavily dependent on the British example''
-Thomas Jefferson
“To those steeped in this radical Whig ideology, Hamilton’s system threatened to re-create the kind of government and society that many Americans thought they had destroyed in 1776. Such a hierarchical society, based on patronage connections and artificial privilege and supported by a bloated executive bureaucracy and a standing army, would in time, the destroy the integrity and independence of the republican citizenry. Hamilton’s federal program, including the funding of Revolutionary debt, assuming the state debts, adopting excise taxes, establishing a standing army, and creating a national bank, seemed to be reminiscent of what Sir Robert Walpole and other ministers had done in England earlier in the century. Hamilton appeared to be using his new economic system to create a swelling phalanx of what Jefferson called ‘stock-jobbers and king-jobbers’ in order to corrupt Congress and build up executive power at the expense of the people in the way eighteenth-century British ministers had done.”
''Hamilton’s economic model was heavily dependent on the British example''
-Thomas Jefferson
“To those steeped in this radical Whig ideology, Hamilton’s system threatened to re-create the kind of government and society that many Americans thought they had destroyed in 1776. Such a hierarchical society, based on patronage connections and artificial privilege and supported by a bloated executive bureaucracy and a standing army, would in time, the destroy the integrity and independence of the republican citizenry. Hamilton’s federal program, including the funding of Revolutionary debt, assuming the state debts, adopting excise taxes, establishing a standing army, and creating a national bank, seemed to be reminiscent of what Sir Robert Walpole and other ministers had done in England earlier in the century. Hamilton appeared to be using his new economic system to create a swelling phalanx of what Jefferson called ‘stock-jobbers and king-jobbers’ in order to corrupt Congress and build up executive power at the expense of the people in the way eighteenth-century British ministers had done.”
No comments:
Post a Comment