Evening star., 1908-01-12
GENIUS OF HAMILTON
ADDRESS OF SECRETARY COR
TELYoU IN BROOKLYN.

NEW YORK, January 1.-THE inf1u-
ence of the genius of Alexander Hamilton
on the financial life of the United States
was the theme on which Secretary OF the
Treasury George B. Cortelyou addressed
the members Of the Hamilton Club In
Brooklyn tonight at a dinner in commem-
-oration of the 151st anniversary Of the
birth of the first Secretary of the Treas
ury.
Mr.. Cortelyou declared that Hamilton s
idea of a central bank was advanced by
many students of finance. The dinner
tonight was without political suggestion.
and Mr. Cortelyou confined his speech to
the life and work of Hamilton. letter
of regret from Ambassador Bryce of
Great Britain was read.
Secretary Cortelyou's Remarks.
Secretary Cortelyou spoke upon some of
the striking phases of the remarkable ca
reer % Alexander Hamilton, some of
which. he said. may be worthy of serious
consideration and emulation in these days
that are soon to lead us into a period of
keen political rivalry and discussion. OF
all men of the colonial and revolutionary
period of our history Hamilton was the
one who most fully realized the ideal we
have in mind when we speak of con-
structive statesman. From his boyhood
until his death his active mind seems to
have been planning measures of the great
est moment for the benefit of the land of
his adoption. During the revolution his
services attracted the attention Of Wash
ington, to whom, later, he was of invalu-
able aid.
Hamilton's greatest work. perhaps. said
Mr. Cortelyou was done when President
Washington called him to take the most
important office at that time, that OF Sec
retary OF the Treasury, then without
funds. What he did there largely endures
to the present day. Most of his recon-
mendations to Congress for the establish
ment of the government on substantial
basis were embodied in statute law,
placing the credit of the nation on a
foundation that never has been shaken,
notwithstanding all the mutations of poll
tics. and even the agony and exhaustion
of a prolonged internal conflict of arms.
His favorite idea for sustaining the ma
tional credit and conducting the finances.
the establishment of a bank, was so well
realized that it attracted the admiration
and support of men, who at the time of
the bank S establishment were antago-
nistic.
Hamilton Association.
The present system oe national banks
has for it's constitutional basis the same
authority that Hamilton's had, while it is
destitute of the monopoly feature which
attached itself to that institution. 1t Is
a tribute to his financial ability. and fore
sight that after the lapse of SO many
years many of our most thoughtful stu
dents OF finances believe that eventually
we shall have to adopt again some similar
system.
One Of the oldest of American state pa
pers Nh Cortelyou said, was Hamilton S
report on manufactures. which advances
theories contemplating the encoura cement
Of ma lufactures by imposts and also by
boupt:es. AS to. the impostS, these theories
largely affected legislation on the subject
of the public revenues from that time to
the present
Mr.. Cortelyou announced that 1t has
been proposed to form an organization
known IS "The Alexander Hamilton Ne
moria, Association" with headquarters in
Wash ngton. for the purpose of erecting a
statue of Hamilton in the nations capital.
He said it had been his pleasure to give
assistance in every possible way to bring
about the consummation of SO commend
able project and he was sure that 1t
was a matter which would meet with the
serera. and hearty cooperation of the
people.