“I charge you to protect his fame. It is all that he has left.”

NEW YORK, New York, July 14, 1804 – All that Alexander Hamilton might have wished to have said of him in life was poured forth today in a moving funeral oration by Gouverneur Morris, diplomat and former colleague of Mr. Hamilton both in the Continental Congress and on the Committee that framed the Constitution.

He spoke over the open coffin holding the body that collapsed in sudden death only four days ago on the Weehawken Heights, across the Hudson River in New Jersey, when Mr. Hamilton engaged in a duel with Aaron Burr.

Today no words were spoken of the controversies over politics and finance that culminated in this tragic event. Neither did Mr. Morris mention the fugitive Burr. Continue reading →

Andrew Jackson stares down the national bank and wins.

“Jackson Slaying the Many-Headed Monster,” 1828. Private collection, Peter Newark American Pictures / Bridgeman Art Library

On July l0, 1832, President Andrew Jackson sent a message to the United States Senate. He returned unsigned, with his objections, a bill that extended the charter of the Second Bank of the United States, due to expire in 1836, for another fifteen years. As Jackson drily noted, the bill was presented to him on the Fourth of July, a day freighted with portent.

Today Jackson’s Bank Veto and the political conflagration known as the “Bank War” that it touched off seem arcane and nearly incomprehensible. While misdeeds among the rich and powerful still garner headlines and incite congressional inquiries, the core instruments of our economic system-the network of banks capped by the Federal Reserve; the corporate form of business enterprise; the very dollars in our wallets, issued and guaranteed by the federal government – are utterly taken for granted. That these could have been the subject of controversy, that anyone could seriously contemplate organizing American capitalism differently, seems nearly unthinkable. Andrew Jackson is recalled today, when recalled at all, for other things, primarily as the architect of forced Indian removal. His face on the $20 bill is a mystery to many, an outrage to some, and, to the knowing, a curious irony. Continue reading →

Franklin D. Roosevelt, “Commonwealth Club Speech” (September 23, 1932)

In this speech, delivered in the depths of the Great Depression, ­ presidential candidate Franklin Roosevelt sought to explain the dramatic ideological differences between himself and the Republican President Herbert Hoover, ‘the Great Engineer.’

In this speech Roosevelt attempts to distinguish the role of government as addressing public policy goals, in serving the public good, rather than simply administering some predetermined economic principles handed down by ‘the market’ and a class of professional economists and financiers.

The speech and the candidate were not well received by the media and the movers and the shakers of the day, the very serious and very comfortable people largely untouched by the economic hardship of the collapse of the stock bubble in 1929, who derided it as ‘too Socialist.’
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Learning more about the first Ukrainian American and his contributions to a foundational American story helps remind us that America has been profoundly transnational at every stage of its history.

The first settlers arriving in Jamestown (National Park Service)

As the Russian invasion of Ukraine has unfolded over the last few weeks, most Americans have certainly been united in their support for the Ukrainian people and condemnation of Russia’s increasingly brutal attacks and tactics. But one area where there has been significantly less consensus is the question of whether and how the U.S. and its allies should intervene in the conflict. Among the arguments for the U.S. maintaining its distance from this unfolding European war is that this conflict is ultimately unrelated to the United States and that it concerns two foreign nations from whom we would do well to remain isolated.

There are various ways to challenge such isolationist arguments, including highlighting the historic moments when isolationism not only failed to end unfolding world wars, but also led directly to belated and more fraught U.S. involvement in those conflicts.

But there are also stories of early Americans who found their way to the continent from across the globe; these stories contradict any perspective on the U.S. as isolated from seemingly foreign nations like Ukraine. Learning more about the first Ukrainian American and his contributions to a foundational American story helps remind us that America has been profoundly transnational at every stage of its history. Continue reading →

The story of the Roanoke Colony is one of the most enduring mysteries in American history. In the late 16th century, a group of English settlers established a colony on Roanoke Island, located off the coast of present-day North Carolina. However, when a supply ship returned to the colony in 1590, all its inhabitants had vanished without a trace. This puzzling event has captivated historians and researchers for centuries, with various theories and speculations attempting to unravel the fate of the lost Roanoke Colony. Continue reading →

“Would it be possible for government to have credit, without having the power of raising money?”

RICHMOND, Va., June 6, 1788 – James Madison, second only to Thomas Jefferson as architect of the new Federal Constitution, today urged ratification of that document in most compelling terms, as he addressed the Convention of Virginia on the need for a responsible, powerful central government but one to be held in check by a care~y contrived diversification of protections for the individual states.

His speech pointed up the vagaries of arguments mustered against the Constitution since its completion by the Philadelphia Convention a year ago. As he spoke here, the principal argument to be overcome was the fear that Virginia, already having assumed responsibility for its debts incurred in the Revolution, would be made the tax dupe of other and less provident states in future tax laws by the Federal Government. This fear was not unlike the arguments advanced in the New York Convention one year ago, when Alexander Hamilton was attempting to allay similar fears on the part of New York’s vested interests.

Mr. Madison, at 33 years of age, has few of the arts of oratory, but he already has shown by his writings his capacity to muster argument with cogent words, as when he stated, “Direct taxes will only be recurred to for great purposes.”
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