Blog Archives

One Nation Under a Groove





By June of 1788, ten States have ratified the proposed Constitution. While the technicalities of Article IX have been met, most people understand that the reality is that for the Union to survive, it must be unanimous. Or at least everybody except Rhode Island, which we will deal with separately.

New York is next up on the clock, and already the sniping between the Federalists, led by Alexander Hamilton, and the longtime Governor of the State, George Clinton (a Revolutionary War General and close friend of Washington’s) has become both intense and deeply personal. Hamilton is deeply connected to the wealthy landowning elites, while Clinton is much more of an introspective “man of the people.” His policies have endeared him to the Middle Class, while the wealthy landowners (Hamilton) have been cut out of New York’s political spoils.

Of all of the States, New York is virtually the only one that – because of Clinton’s economic policies – emerged from the depression of 1780 in good shape. In fact, the State Treasury has over $3 Million (in 1788 dollars) in surplus. Clinton is wisely using this to improve New York’s economy and – of course – keep the votes of the middle and lower classes. Hamilton, who married the daughter of the man Clinton upset in the 1777 Gubernatorial election, opposes the policies that keep New York’s money in New York and not allowing Congress to take over the impost (tax) money that New York is collecting. In fact, at one point New York reluctantly agrees to hand it over to Congress, but petulant Rhode Island torpedoes the deal by refusing to agree. Of course.

More than anyone though, it is these two men, Hamilton and Clinton, who will face off in New York over the Constitution. Clinton will become the very embodiment – in fact, he is the man for whom the term is coined – of the Anti-Federalist. He is not an anti-nationalist. He believes strongly in the Union and in liberty. But he opposes ratification. Hamilton is co-writing the Federalist Papers. it doesn’t take long before the hotter-headed of the two begins to take shots -metaphorically – at the other in the media. 

When everything is said and done, One of them will become a two time Vice-President, mostly forgotten despite his accomplishments. The other will become a controversial figure and the centerpiece of rewritten history…



Advertisements

CT – The 2nd Bank of the United States



DOWNLOAD MP3

 


This often happens to me. I start down a thought road, planning to talk about one thing, and then I get off on a different road. As Sherlock Holmes described it, I follow the thread where it leads. I had planned to talk about this weeks refusal by the Supreme Court to issue a writ of cert to hear Gee v Planned Parenthood, but I got interested in Justice Thomas’ dissent.

Understandably, he is upset at the refusal of the Court to hear the case. There are those who believe that his dissent is rooted in ideology, and it may be. Clearly, he hates abortion and would vote to overturn Roe v Wade faster than a Michael Cohen news story gets on the air. But he does make a valid point – the jurisdiction and duty of the Court, as intended by the Framers, was to resolve questions such as this case asks. Especially when there are differing opinions as to what is going on with a given law in the lower Courts.

So…

There once came a time when the economic situation was chaotic. A long war had drained national resources and there was an overabundance of land and property available for speculative deals. To that end, numerous banks began making speculative loans backed up by literally nothing. The overextension of easy credit along with declining prices of non-land goods was causing a great deal of concern. And when the crap hit the fan, all hell broke loose.

Banks panicked and began calling in loans and foreclosing on the properties.

And then the politicians got involved…


%d bloggers like this: