The home journal. (Winchester, Tenn.) 1858-188?, 1872-03-14
HamlltOn's A administration of the
Treasury Department.

/
cession those great state pa
pers suggesting financial meas
ures; the embodiment Of which
into laws levied duties on for
eign wines, spirits, and coffee, and,
on domestic productions, taxes COM
paratively high on luxuries, mod
crate on the necessities of life. The
comprehensiveness of these enact
ments did away with the divers cor
illcting systems established by colo
NAL laws, pleased the people, and Sc
cured for the new government the
confidence and respect of foreign
nations. .
| Next turning his attention to
commerce, Hamilton conceived and
brought forward his great project
regarding "tonage Duties" which
levied six cents per ton on the
United States vessels arriving from
foreign ports, thirty cents Fer ton on
those owned abroad but built in tie
United States, and fifty cents per
ton on all others. These discrini-
mating duties in favor of American
shipping, and statutes of similar in
spiration, confined the coastine
trade to vessels built in the country
and laid. the foundation of our for.
eign commerce and mercantile ma
rine.
| What Hamilton in the mean
time was doing for his personal in
terest may be perceived by the 10!
lowing note, addressed to q friend
dated September 80, 179l:
"near Slr,--Ifyou can conveniently let me have
twenty dollars for few days, send 1t hv hnNrer.
sA.H."
| On the 25th of February, 1871,
Hamilton brought forward his bill
to establish q United States bank,
to aid in the collection of the taxes,
and the transmission of govern
ment funds from one part of the
country to another. BY this act
was laid the foundation, broad and
deep, of those great discussions on
finance which in later DAYS, more
or less under every administration
agitated the country, and culmina-
ted in financial revolution by the
removal of the deposits under
the administration of General Jack
6 son.
The bank recommended by Ham
ilton was established, and 50 rapid
ly had his administration of the
!, Treasury Department developed tho
e resources of the country, that the
- impoverished peopleiof the two
$ previous years were now SO
: prompt in their subscription
4 to the stock that General
Washington, on the 18th ofOctober,
# 1871, in his message, had the fol-
4 lowing congratulatory paragraphs:
i "The rapid subscription to the
0 United States Bank, which COM
pleted in single day the sum al
1 lowed to be subscribed, is among
e the striking and pleasing evidences
t which present not onl y of confidence
: in the government, but Of resources
Q in the community"
We can now perceive, by review
1 ing the gradual development of the
!. machinery of the Treasury Depart
ment, how perfect were the plans Of
Alexander Hamilton. First, in
spired by his suggestions, came the
a act which established the routine by
n which customs were to be collected;
G then followed the acts for levyipg
d of taxes and accumulation of rev.
$ enue; next came tho imposition on
J. ships, and our commercial marine,
| foreign and domestic, was establish
g ed; then the bank for the deposito-
1t ry of the collected funds, and for
r their distribution throughout tho
g country. One thing more was
IS needed to complete the grand
structure, viz, q legalized institu-
n tion for the coinage of gold and sill
IL yer. Homilton, in accordance with
It his great design, now recommended
a for the adoption of Congress the
r establishment of q mint for the pur-
poses of national coinage, and the
act passed on the I'd day of April,
~ 1892. 1t was ordered that this in.
stitution should be at the seat Of
> government for the time being
then in Philadelphia). On the
transfer of the capitol to Washing
ton the mint was not removed, and
Il subsequent legislation has continued
it in the city Of its first organization
q The amount of work performed
by Hamilton while engaged in these
=, important official duties was extra
u ordinary. Talleyrand, who was at
this time "a refugee in Philadel-
!, phia, became acquainted with HAM
u ilton, and after he returned to
y Franco was fond of expressing his
5 admiration of his genius. Passing
!, l. the Secretary's office late one night
he saw him at work, and found him
e still engaged early in the morning.
a In speaking Of his experience in
t America, he once said, 81 have seen
in that country one of the wonders
: of the world-s man who has made
, the future of nation, laboring all
night to support his family"
After nearly six years OF public
service. and in spite of the most
unceasing personal and political
opposition that ever assailed any
statesman, Hamilton. seeing that
his financial plans were ingrafted
upon the policy Of his country, re-
signed his office and returned 70
New York city, quietly resuming