The First US National Bank: Hamilton vs Jefferson
Posted by Orrin Woodward on January 15, 2014
Thomas DiLorenzo shares how the First USA National Bank came into existence. Alexander Hamilton and Thomas Jefferson, two of the brightest and best American minds, disputed whether a national bank was within the boundaries of the Constitution. Unfortunately, for liberty’s sake, Hamilton won approval for the national bank and America tilted towards Statism. It is difficult to protect freedoms one does not understand. Hence, learning the early history of the American founding is a great start in understanding and defending the freedoms American’s hold dear. LIFE Leadership seeks to learn and share truth in the fields of leadership, liberty, and life.
Sincerely,
10 Responses to “The First US National Bank: Hamilton vs Jefferson”
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Bobbi said
I keep hearing, ” You don’t know what you don’t know.” and I love the saying about the ostrich sticking his head in the sand does not change the Lions plan for dinner.
The Constitution used to be “we, the people”, but laziness, disinterest, and distraction, is no excuse for what our nation has become.
Olivier Jean-Baptiste said
Hi Orrin
In the case of Alexander Hamilton it is interesting to note that no matter how intelligent, educated, brilliant and cultivated a politician or a statesman is, provided that his political philosophy is not based on the foundation of natural law, the consequences of implementing any of his policies (contrary to natural law)can only initiate decline within society. Demille’s latest book (We Hold These Truth To Be Self-Evident) is good frame of reference to understand the critical relevance of keep the natural laws as the center piece of any policy. I am grateful for Life Leadership and Demille for this book.
Randy Robson said
Thanks, Orrin, for posting this. I’m a fan of Thomas DiLorenzo. I also really enjoyed his research on Lincoln.
Chad Waters said
Hi Orrin,
We must seek first to understand before we can truly try and fix something. We must know the good and bad and what went wrong.
Life Leadership is great at helping us with this and your book is going to be awesome!
God Bless
Chad.
Roosevelt Jean-Francois said
Hi Orrin,
This proves once again when we lose our economic freedoms, we are bound to lose our Spiritual and Political freedoms as well.
Central Banking was a counter-revolution curse with Hamilton full energy in government. This was a new mercantilist scheme to tie large amount of debt with affluent people in government and also control liberties. Hamilton and his disciples including Chief Justice Marshall try to keep people in bondage and use central banking as a source of patronage to the benefits of their political cartel.
I like the Austrian Economic School and The Mises Institute as great places to pursue my self-directed economic education. I’m above all thankful to have been on board of the Life Leadership Train.
God Bless,
Roosevelt Jean-Francois
Richard Kroll Jr. said
Orrin… Thank you for making this kind of information to MAIN STREAM America!!!
Chris Miller said
Thanks for the post Orrin. It’s time we go to 1 million people and educate Americans.
robert wilcox said
Wow! Thank you for sharing … Again Amazing …You and George have taught me more about economics and History than I could ever imagine!! I have not read much on Alexander Hamilton .. but this really set the tone for the person he was. As far as economics this was fantastic often times we are taught important dates and line them up with events but the different dates and events never really coincide with each other. I love the information you share and I am soo thankful … because you share information that puts it all together and makes it understandable and really makes you wake up and say …. oohhh ouch … something needs to change!! Thank you Orrin!
AR said
HI …
NOT WATCHED THE VIDEO …
JOY/HAPPINESS IN LIFE REALLY IS THE RESULT OF SERVING …
SERVING THE ALL …
TY
Gordon Goetsch said
Yes! We so desperately need this transformational truth to be spread far and wide.
Its time to put an end to the domination of the Soulless Money Lenders.
Thanks for this.
An interesting aside here is that through the sweeping power of this “Private” institution and the fraudulent system of fractional reserve banking, the government’s $2,000,000 cash stake referenced by DiLorenzo in the video, was used to make loans to private investors to purchase the other 80% stake, $8,000,000, for this risk free investment. Investors came easy as the name, “First Bank of the United States,” was deliberately chosen to hide from the common people the fact that it was privately owned and operated corporation. Heres a clue to who is really behind all this…When Alexander Hamilton proposed this bank in Congress, Mayer Amschel Rothschild made the following statement from his bank in Frankfurt, Germany, “Let me issue and control a nation’s money and I care not who writes the laws.”
Jackson never gave up his fight against the “National Bank”, and it was a fight. He was falsely accused by Nicholas Biddle, head of the bank, of causing the “Panic of 1834” by withdrawing federal funds from the bank. Biddle won that round as congress assembled what was called the, “Panic Session,” Andrew Jackson was officially censured by Congress for withdrawing funds from the Second Bank of the United States. This was the first time an American President had been censured, and Andrew Jackson responded by stating, “You are a den of thieves and vipers, and I intend to rout you out, and by the eternal God, I will rout you out.”
Providentially Biddle’s shenanigans were exposed after the expiration of the Charter for and thus the closure of the Second Bank of the United States in 1836. He was arrested and charged with fraud, tried and acquitted but died in 1844 still battling civil suits.
Andrew Jackson payed off the final installment of the national debt, which had been necessitated by allowing the central bank to issue currency for government bonds, rather than simply issuing treasury notes without such debt. He became the only President to ever pay off the national debt. On January 30th 1838 the assassin Richard Lawrence attempted to shoot Andrew Jackson, but both pistols misfired. Richard Lawrence openly bragged that powerful people in Europe hired him and promised to protect him. Richard Lawrence was found not guilty by reason of insanity.
When asked what his most important accomplishment had been in life, Andrew Jackson stated without hesitation, “I killed the Bank!”
It would be another 75 years before the next central bank, the Federal Reserve would be established. This time they took no chances using Jacob Hirsch Schiff from the Rothschild bloodline.