Who is Father of Modern Banking ?

Alexander Hamilton is father of modern banking

Alexander Hamilton who was born in Charles Town, Nevis on January 11, 1755 was an American statesman, an influential interpreter who also promoted the Constitution of the USA and one of the founding fathers who also organized the nation’s financial systems. He led the funding of the Federal governments state debt and helped to establish the national bank which supported manufacturing and a strong army. He had a vision that led to the setting up of the tariff system and a trade relationship with Britain that is friendly. He also founded the Federalist Party, the New York Post, the USA Coast Guard. He was the secretary of the Treasury when George Washington was the President. Thomas Jefferson opposed him and argued for smaller government and agrarianism. A Strong Central Government that was led by an executive branch that was very vigorous was organized by him.

Alexander Hamilton Father of American Banking

Alexander Hamilton was not a U.S. president but he became a founding father of the USA even though he was born out of wedlock and he was taken in by a very rich businessman after he became an orphan as a child. As a teen he pursued his education and in 1777 he was in the American army when the American Revolutionary War was fought and after the war, he became a senior aide to George Washington and assisted with the leading of the new Continental Army. He was the person who represented New York in the Congress of the Confederation.

Hamilton was a trusted member of President Washington’s first Cabinet as he led the Treasury Department, he helped to implement the Whiskey Tax that was very controversial after the tariff on imports was not able to fund the National debt, the government backed Bank of America and to assume state debt. The bankers and businessmen became members of the Federalist party after he mobilized them and other friends of a network.
The Jay Treaty that he spearheaded in 1794 is seen as a part of the history of the two-party system that is still alive and well in the US today. The party that he was a part of dominated politics for many years until Jefferson’s Democratic-Republican Party won the election in 1800.

Hamilton was instrumental in ending the International slave trade, he actively sought to change laws and campaigned against Vice President Burr in 1804 as he tried to get elected to be the governor for New York State. Burr was very offended and a duel between the two men left Hamilton badly hurt and he died the following day.
He began developing an interest in life in other places away from the small island where he lived after he started reading many books and he liked writing as well. It was a letter that he wrote to his father about a hurricane that had badly damaged the island that he lived on, that was seen by a very influential Journalist that caused him to be sent to further his education in North America. He wrote about God’s wrath pouring out on the island because of the people’s love for vanity. The journalist thought his letter was a Sermon. It was very impressive, and persons were amazed that young man who had not attended university as yet could have written such a letter.

Beekman and Cruger was an import-export firm, where Hamilton was employed as a clerk in his early years, they traded with New York and New England. He proved to be very capable as a trader, he was left to manage the firm 1771 when his boss went on a sea trip.
He spent time with Hercules Mulligan, who had a brother who did trading in 1772, after he arrived in Boston on a ship before he went to New York. Mulligan assisted him in selling cargo and he earned enough money to pay for his College tuition. It was not long after met William Livingston who was a revolutionary and leading intellectual. He was influenced by Livingston as he stayed with him at his Liberty Hall.