self academia and uh... he couldn't play by a politician and first call
there were no billionaires in america in fact there were no millionaires in as
his first millionaire came along in the seventeen nineties
in today's dollars
and emily in it that much in today's dollars an amendment
people who are millionaires just
you know based on the value of their homes but
uh... but the particulars of our big cities
but the point is that uh... he mister jefferson
this is this is an outstanding also now it is presence there really family was
every president but
uh... he's certainly was influential
the old cliche and it's absolutely true
is that we all run around quoting jefferson but we live in hamilton's
country
that hamilton had this vision for america
and hamilton was the surgery the treasury jefferson was the secretary of
state in the george washington administration
washington being the fourth presidencies the first time rate in the constitution
arguably the first of the new united states
hamilton had this idea of this this uh...
beyond
empire basically this dynastic
manufacturing base empire
that uh... used manufacturing finance to build a great nation and jefferson
thought that that was a dangerous road for us to go down now he changed his
mind once he became president in eighteen hundred that this is back four
years earlier security alert eight years earlier
and as well seven years when when it when the square sponsors happened
when he and hamilton were such an ease in the cabinet
and i just i just have to share some of the i spent addicted probably most of
saturday
for five hours saturday reading that
these letters of alexander hamilton's
uh... to various people i was innum
i'm working on a book right now and i was looking for stuff that had to do
with uh...
debt and trade
and but
we found these incredible little pieces
uh... uh... hamilton is writing this is a uh... a letter
to colonel edward carrington
whose personal friend of hamiltons
uh... it's dated may twenty six seventeen ninety to so this was the
second nd
you'll see the jurors washing industry shin
this is the third year
well whatever anne at seventeen ninety two
and he says that mister jefferson with very little reserve
manifest his dislike
of the funding system generally calling into question the expediency of funding
a debt at all
jefferson would have been what today we call in modern monetary theorist
some expressions a back to hamilton some expressions which he has dropped in my
presence
parentheses
sometimes without sufficient attention to delicacy
close parental c
walt not permit me to doubt on this point representations which uh... had
from various respectable quarters in other words jefferson's trash talking
him battling to himself but to other people
uses in various conversations with foreigners as well as citizens
he has thrown censure on my principles of government and on my measures of
administration
he did in a style and manner which i felt as partaking of espe ready
anil kilmer toward mate
when any internet things in the community is threatened either odio more
embarrassment to me he has not been able to suppress the satisfaction which it
gave him
and was a battle by the way that hamilton ultimately one
uses respective foreign politics
the views of these gentlemen i he's talking about uh... dm hamilton greg
city jefferson and his protege james madison
inside for politics there was also in the cabinet
uh... is is in respect of the to foreign politics review these gentlemen are in
my judgment equally unsound and dangerous
they have a woman issue attachment to france and a woman issue resentment
against great britain
c helton himself
did not have a problem with stooping to
slapping him around
uh... uses mister jefferson in france on government only on the side of its
abuses he drank freely of the french philosophy and religion science and
politics he came from france in the moment of affirmative she's talking
about
clean up the french revolution
which he had a share an exciting
and he came here probably would to partial an idea of his own powers
became electrified with attachment of france
and anytime any they chefs to mister madison who is also a p_o_ to it
uses mister madison it always entertaining ogs altered opinion of the
talents knowledge of virtues of mister jefferson
missile was probably reciprocal
a close correspondence insisted between them during the time of mister
jefferson's absence in the country close intimacy rose upon his return
mister jefferson was in discreetly open
in his approbation mister medicines principles
i say in discreetly because a gentleman and they had been a certain he's talking
to these guys they're on the cabinet
shes i say in discreetly because the gentleman in the administration in one
department ought not to have taken sides against another in another department
the course of this business p dot some degree of visual humor in mister
jefferson
i was aware of a systematic opposition to me on the part of these gentlemen my
sub version i am now satisfied has been long an object with them
i have feelings of personal moi replication
so what was that he was mortified
well had to do with in this case this particular way out
uh... just a few months later august eighteen seventeen ninety two he wrote a
letter did george washington
about this it was about the national debt
and it starts out objection one
and so he's quoting his opponents
the public debt is greater than we can possibly pay
before other costs causes of adding to it will occur
and this has been artificially created by any of the whole of the data recorder
says the cuts
the public that was produced by the late war weather is greater than can be paid
before you cause it adding two will occur as a problem
incapable of being some but by experience
now i will explain what met hamilton was talking about
why the debt was a big deal at the fun in this country
quite frankly i think it's not a big deal right now back to delhi hamilton at
that time he said
go to the united states compare the present in front of the lease is really
a very light
who are more than fifteen million pounds sterling about the annual expenditure of
great britain
though is the death of the united states is equal to the entire g_t_e_ g_d_p_ of
great britain which was matched with larger than the united states hamilton
says
plus not so much dot
we do have a lab