However, Hamilton’s ideas seemed ludicrous to many. Secretary of State Jefferson, for instance, believed that a large national debt would be a “national curse” that would depress poor farmers and ruin the economy. "
Hamilton believed that the future of the United States depended on industry/ manufacturing. How ironic, now that industry/ manufacturing is being outsourced. He believed in using tariffs to create incentive to buy local, yet now most Americans buy foreign manufactured products way more than we buy local. Also it seems that Hamilton was willing to sacrifice the lower classes in order to build up the upper classes - by taxing the poor more and letting investors run financial schemes..> This is happening in the extreme today where the majority is suffering and the minority is filthy rich... resulting in high rates of unemployment and poverty. As I type now there is a massive protest 29 days old taking place in down town N.Y.? It seems we've come full circle. Hamilton wanted to pay off the nations debts and proposed many ways of doing so including levying new taxes on whiskey and tobacco. Presently our National debt is more that 14 trillion and increasing daily. What are we doing to reduce out debt? far less paying our debts. It’s astounding how much of our debt is owned by foreign governments.