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After hulking works on J.P. Morgan, the
Warburgs and John D. Rockefeller, what
other grandee of American finance was left for Chernow's overflowing pen than
the one who puts the others in the shade? Alexander Hamilton (1755-1804) created
public finance in the United States. In fact, it's arguable that without Hamilton's
political and financial strategic brilliance, the United States might not have
survived beyond its early years. Chernow's achievement is to give us a biography
commensurate with Hamilton's character, as well as the full, complex context
of his unflaggingly active life. Possessing the most powerful (though not the
most profound) intelligence of his gifted contemporaries, Hamilton rose from
Caribbean bastardy through military service in Washington's circle to historic
importance at an early age and then, in a new era of partisan politics, gradually
lost his political bearings. Chernow makes fresh contributions to Hamiltoniana:
no one has discovered so much about Hamilton's illegitimate origins and harrowed
youth; few have been so taken by Hamilton's long-suffering, loving wife, Eliza.
Yet it's hard not to cringe at some of Hamilton's hotheaded words and behavior,
especially sacrificing the well-being of his family on the altar of misplaced
honor. This is a fine work that captures Hamilton's life with judiciousness
and verve. Illus.
Copyright © Reed Business Information, a division of Reed Elsevier Inc.
All rights reserved.
From The Washington Post's Book
World/washingtonpost.com
An illegitimate orphan from the West
Indies, Alexander Hamilton rose to become
George Washington's most trusted adviser
in war and peace -- only to be snared
in a sex scandal and killed in a duel
by Vice President Aaron Burr. None of
the American Founders had a more dramatic
life or death than Hamilton -- and none
did more to lay the foundations of America's
future wealth and power. Revered by Lincoln
Republicans, Hamilton fell out of favor
in the middle of the 20th century thanks
to the influence, first in the Democratic
Party of Franklin Roosevelt and then
in today's Republican Party, of Southern
and Western conservatives and populists
for whom Hamilton's arch-rival, Thomas
Jefferson, was the greatest of the Founding
Fathers. But recent scholarship has replaced
the sanitized image of Jefferson as an
egalitarian idealist with the theorist
of states' rights, pseudoscientific racism
and agrarian economics who sold slaves
to pay for his luxuries. Because Hamilton
was an abolitionist, promoter of high-tech
capitalism and champion of a world-class
military, he is an ancestor whose attitudes
do not embarrass contemporary Americans.
In Alexander Hamilton, Ron Chernow, the
author of The House of Morgan, The Warburgs
and Titan, a biography of John D. Rockefeller,
has brought to life the Founding Father
who did more than any other to create
the modern United States.
The
self-made man and the immigrant who
achieves success are figures dear to
American culture; Hamilton, alone among
the prominent Founders, was both. Chernow
writes, "no immigrant in American
history has ever made a larger contribution
than Alexander Hamilton." Hamilton, who
became one of the first American leaders
to call for the abolition of slavery,
grew up in the Caribbean slave societies
of Nevis and St. Croix. He was the illegitimate
child of James Hamilton, the younger
son of a Scots laird, and Rachel Faucette,
a woman of British and French Huguenot
descent who had fled from her first husband.
(Chernow's extensive research has uncovered
nothing to substantiate claims that Hamilton,
by way of his mother, was partly black.)
Hamilton and his brother, James Jr.,
were abandoned by their father in 1765
and orphaned when their mother died in
1767. Hamilton was 12. Sent to New York
as a scholarship boy, the orphan from
the West Indies flourished at King's
College (now Columbia University), penned
an anti-British polemic, "The Farmer
Refuted," and, when the Revolution broke
out, became an artillery captain whose
exploits inspired Washington to make
Hamilton his aide-de-camp. Hamilton's
transformation from outsider to insider
was complete when he married Elizabeth "Eliza" Schuyler,
a member of one of the richest and most
politically influential families in New
York.
Like
Washington, Hamilton sought to replace
the Articles of Federation with a stronger
national constitution and took part
in the Philadelphia convention. In
the fall of 1787, Hamilton recruited
John Jay and James Madison to help him
write the essays that became the Federalist
Papers, to persuade New York's ratifying
convention to approve the new federal
constitution. According to Chernow, "Hamilton
supervised the entire Federalist project.
He dreamed up the idea, enlisted the
participants, wrote the overwhelming
bulk of the essays, and oversaw the publication." While
romantic agrarians like Jefferson dreamed
of an isolationist America uncorrupted
by manufacturing, Hamilton realized that
to survive in a world of rival great
powers the United States would have to
adopt selected elements of the economic
and military policies of Britain and
France. As Washington's secretary of
the treasury, Hamilton infuriated populists
by refusing to distinguish between the
original holders of Revolutionary War-era
debt -- many of them soldiers -- and
the speculators who had bought them out.
In Chernow's words, Hamilton's refusal "established
the legal and moral basis for securities
trading in America: the notion that securities
are freely transferable and that buyers
assume all rights to profit or loss in
transactions." Jefferson, Madison and
other Southern agrarians were bribed
into acquiescing in Hamilton's financial
system by the decision to place the permanent
U.S. capital on the Potomac. According
to Chernow, "Madison and Henry Lee speculated
in land on the Potomac, hoping to earn
a windfall profit if the area was chosen
for the capital." Hamilton went on to
oversee the creation of the First Bank
of the United States, the ancestor of
today's Federal Reserve.
Even
more important for America's future
prosperity were Hamilton's plans for
government-encouraged industrial capitalism.
His ambitious industrial corporation,
the Society for Establishing Useful Manufactures
(SEUM), was a failure. But in his Report
on Manufactures (1791), he made the classic "infant-industry" argument
that American industries needed assistance
from the federal government if they were
to catch up with British manufacturing.
Hamilton's most important successors
in American politics were Henry Clay
and Abraham Lincoln, who, as president,
presided over the enactment of Hamiltonian
policies such as federal investment in
railroads, national banking and support
for U.S. industries by means of high
tariffs (Hamilton himself had preferred "bounties" or
subsidies to infant industries as an
alternative to tariffs).
Hamilton
had no more doubt than Lincoln did
later that the constitution empowered
the federal government to suppress insurrections.
When an excise tax in 1794 provoked thousands
of mostly Scots-Irish backwoodsmen to
assault federal tax officials in what
became known as "the Whiskey Rebellion," Hamilton
insisted on a strong response. President
Washington agreed: "If the laws are to
be trampled upon with impunity, and a
minority is to dictate to the majority,
there is an end put at one stroke to
republican government." In an echo of
the Revolutionary War, the two men led
a military expedition before which the
rebels melted away.
A
third reunion of Washington and Hamilton
as military leaders came in 1798-99,
when war loomed with France and President
John Adams asked Washington to come out
of retirement to lead an army that Hamilton
organized. When Adams adopted a conciliatory
policy toward France, Hamilton was furious
and penned a denunciation of the president. "In
writing an intemperate indictment of
John Adams," Chernow says, "Hamilton
committed a form of political suicide
that blighted the rest of his career." Hamilton's
denunciations of Aaron Burr, Thomas Jefferson's
scheming vice president, led to Hamilton's
shooting death in the famous duel at
Weehawken, N.J., on July 11, 1804. Hamilton,
who had become an increasingly pious
Christian after his son, Philip, died
in a duel, deliberately missed Burr.
Chernow makes the interesting suggestion
that Hamilton's willingness to fight
a duel, along with his hypersensitivity
about honor, reflects the influence of
his West Indian background. In the West
Indies as in the South, "plantation society
was a feudal order, predicated on personal
honor and dignity, making duels popular
among whites who fancied themselves noblemen."
In
this magisterial biography, Chernow
tells the story not only of Hamilton
but also of his wife, Eliza, a remarkable
woman who died at the age of 97 in 1854.
The year before, "When the ninety-five-year
old Eliza dined at the White House .
. . she made a grand entrance with her
daughter. President Fillmore fussed over
her, and the first lady gave up her chair
to her. Everybody was eager to touch
a living piece of American history." Generations
earlier, Eliza had endured with stoic
dignity the controversy over Hamilton's
affair with Maria Reynolds, a woman who
seduced the treasury secretary so that
her husband could blackmail him (Chernow
provides a good account of this, the
first political sex scandal in American
history.) Today Eliza is buried next
to her husband in the Trinity Churchyard
in New York City, which Jeffersonians
once called "Hamiltonopolis."
"The magnitude of Hamilton's feats as
treasury secretary has overshadowed many
other facets of his life: clerk, college
student, youthful poet, essayist, artillery
captain, wartime adjutant to Washington,
battlefield hero, congressman, abolitionist,
Bank of New York founder, state assemblyman,
member of the Constitutional Convention
and New York Ratifying Convention, orator,
lawyer, polemicist, educator, patron
saint of the New-York Evening Post, foreign-policy
theorist, and major general in the army," writes
Chernow. His verdict is persuasive: "If
Jefferson provided the essential poetry
of American political discourse, Hamilton
established the prose of American statecraft.
No other founder articulated such a clear
and prescient vision of America's future
political, military, and economic strength
or crafted such ingenious mechanisms
to bind the nation together."
Reviewed
by Michael Lind
Copyright 2004,
The Washington Post Co. All Rights Reserved.
From Booklist
*Starred Review* Washington is revered
as the "father of his country" and the "indispensable
man." Jefferson is the "apostle of liberty," the author of our most sacred
national document, and his idealism, though flawed, continues to inspire us.
And Alexander Hamilton? He inspires admiration for his financial acumen and
respect for his drive to rise above the genteel poverty of his youth. Yet he
seldom is accorded the affection reserved for some of our national icons. But
as Chernow's comprehensive and superbly written biography makes clear, Hamilton
was at least as influential as any of our Founding Fathers in shaping our national
institutions and political culture. He was the driving force behind the calling
of the Constitutional Convention, and he was instrumental in overcoming opposition
to ratification. In Washington's cabinet, he consistently promoted a national
perspective while placing our economy on a sound financial footing. Chernow,
who has previously written biographies of J. P. Morgan and John D. Rockefeller,
acknowledges Hamilton's arrogance, his bouts of self-pity, and his penchant
for cynical manipulation. But this self-made man was capable of great compassion
and was consistently outraged by the institution of slavery. Although his understanding
of human limitations made him suspicious of unrestrained democracy, his devotion
to individual liberty did not falter. Jay Freeman
Copyright © American Library Association. All rights reserved --
Amazon.com
Building on biographies by Richard
Brookhiser and Willard
Sterne Randall, Ron Chernow's Alexander Hamilton provides
what may be the most comprehensive modern examination of the often overlooked
Founding Father. From the start, Chernow argues that Hamilton's premature death
at age 49 left his record to be reinterpreted and even re-written by his more
long-lived enemies, among them: Thomas Jefferson, John Adams, and James Monroe.
Hamilton's achievements as first Secretary of the Treasury, co-author of The
Federalist Papers, and member of the Constitutional Convention were clouded
after his death by strident claims that he was an arrogant, self-serving monarchist.
Chernow delves into the almost 22,000 pages of letters, manuscripts, and articles
that make up Hamilton's legacy to reveal a man with a sophisticated intellect,
a romantic spirit, and a late-blooming religiosity.
One fault of the book, is that Chernow
is so convinced of Hamilton's excellence
that his narrative sometimes becomes
hagiographic. Nowhere is this more apparent
than in Chernow's account of the infamous
duel between Hamilton and Aaron Burr
in 1804. He describes Hamilton's final
hours as pious, while Burr, Jefferson,
and Adams achieve an almost cartoonish
villainy at the news of Hamilton's passing.
A
defender of the union against New England
secession and an opponent of slavery,
Hamilton has a special appeal to modern
sensibilities. Chernow argues that
in contrast to Jefferson and Washington's
now outmoded agrarian idealism, Hamilton
was "the prophet of the capitalist revolution" and
the true forebear of modern America.
In his Prologue, he writes: "In all probability,
Alexander Hamilton is the foremost figure
in American history who never attained
the presidency, yet he probably had a
much deeper and more lasting impact than
many who did." With Alexander Hamilton ,
this impact can now be more widely appreciated. --Patrick
O'Kelley
Kirkus Reviews , starred review,
January 15, 2004
Literate and full of engaging historical asides. By far the best of the many
lives of Hamilton now in print...
Robert A. Caro, author of The Power
Broker and The Years of Lyndon Johnson
A brilliant historian has done it again! The thoroughness and integrity of
Ron Chernow's research shines forth on every page...
Publishers Weekly , starred
review, January 26, 2004
This is a fine work that captures Hamilton's life with judiciousness and verve.
Library Journal , February
15, 2004
A first-rate and excellent addition to the ongoing debate about Hamilton's
importance in the shaping of America.
The Wall Street Journal , April
30, 2004
...[an] impressively thorough, superbly written and carefully researched biography.
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