At this time last year, the year we promised ourselves we wouldn’t bring up any more, Lin-Manuel Miranda’s musical “Hamilton” made its debut on Disney+.
If you haven’t heard of it, the musical gives us a dramatic retelling of the life and trials of Alexander Hamilton – our $10 banknote figurehead and founding father.
The first act gives us an at-a-glance view of his rise to infamy as a writer and soldier in the American Revolutionary War. The second act gives way to Hamiltion’s foray into politics – and of course, his indiscretions and downfall.
But I’m not going to give you a history lesson on the life of Alexander Hamilton. The reason we’re here is to discuss his achievements in the world of finance that helped us shape the money world as we know it. Check it:
In June 1784, acting as Secretary of the Treasury, Hamilton had founded the Bank of New York, pushing for the establishment of a national bank. He thought that doing so would stabilize and improve the nation’s credit while also improving how the government handled financial business.
In 1790, Hamilton founded what we now know as the Coast Guard. Many naval imports were being smuggled (and not being taxed on entry to the US. In response, Hamilton created a police force to ensure that tariffs and taxes wound up in the right place.
In 1792, he founded the United States Mint after Congress agreed with the ideologies he put forth in his report, “The Establishment of a Mint”, and established The Bank of New York – one of America’s oldest running banks.
Controversy aside, Alexander Hamilton brought many new ideas to America in its formative years that shaped the future of the country’s financial systems, and he got his start by being a financial advisor to George Washington.
It’s not as world-changing as forming a country or anything, but sometimes our finances can feel just as high-stakes.
Call 513-563-PLAN (7526) or click here to book a 15-minute call with one of our financial advisors and let us be the Hamilton to your Washington.
Regards,
Nikki Earley, CFP®
