Why am I passionate about this?
My friend Lou Cannon, the great reporter and Reagan biographer, once told me, “if you want to really learn about a subject, write a book about it.” As a political journalist and author of several books about current and past politics, wanted to learn more about the Founding Fathers, and as a map buff I tried to understand how they understood a continent most of which was not accurately mapped and how they envisioned the geographic limits and reach of a new republic more extensive in size than most nations in Europe. The book is my attempt to share what I learned with readers, and to invite them to read more about these extraordinary leaders.
Michael's book list on the struggles of the early America republic
Why did Michael love this book?
It is an interesting fact that Hamilton and Gallatin, who served as Treasury Secretary during most of the republic’s first quarter-century, were immigrants from commercially more active locales, Hamilton from the sugar island of St. Croix, Gallatin from the stony Calvinist banking center of Geneva, Switzerland.
As congressman from the Pennsylvania frontier, Gallatin opposed Hamilton’s national debt and Bank of the United States, that gave the infant republic circulating money and workable finance. But as Jefferson and Madison’s secretary of the Treasury Gallatin maintained the bulk of Hamilton’s system and managed—with help from fellow immigrants John Jacob Astor and Stephen Girard—to finance the War of 1812.
1 author picked The Founders and Finance as one of their favorite books, and they share why you should read it.
In 1776 the United States government started out on a shoestring and quickly went bankrupt fighting its War of Independence against Britain. At the war's end, the national government owed tremendous sums to foreign creditors and its own citizens. But lacking the power to tax, it had no means to repay them. The Founders and Finance is the first book to tell the story of how foreign-born financial specialists-immigrants-solved the fiscal crisis and set the United States on a path to long-term economic success.
Pulitzer Prize-winning author Thomas K. McCraw analyzes the skills and worldliness of Alexander Hamilton (from the…