Once the affairs of the court were settled, Charles' matters in Philadelphia were largely resolved. A few days later, Alexander Hamilton, having received a summons from the Continental Congress, hurried from the Continental army to Philadelphia.
Charles met this young man, who was about his own age, at Independence Hall.
"Your Excellency, Congressman! Alexander Hamilton salutes you!"
"Hello! Brave soldier of the Continental army." Charles returned the greeting.
This young man before him, an illegitimate child and homeless orphan from the British West Indies, rose to become George Washington's most trusted right-hand man. However, he later became embroiled in a sex scandal and lost his life in a duel with Vice President Aaron Burr.
Among the Founding Fathers of the United States, no one's life and death were more dramatic than Alexander Hamilton's. In laying the foundation for America's future wealth and power, no other founding father's contributions could rival Hamilton's.
Yet, he never became President of the United States like others, and in his competition with his main political opponent, Thomas Jefferson, he seemed to have suffered a crushing defeat. However, the drama of history lies precisely in this: after his death, his political legacy, including the "path to industrial nation-building" and the establishment of a strong Federal Government, played an increasingly significant role in subsequent American history.
Even presidents who influenced the course of American history, such as Lincoln and Theodore Roosevelt, based their policies on Hamilton's legacy.
"Do you already know the reason the Continental Congress has summoned you, Mr. Hamilton?"
"Yes, Your Excellency! I already know. You suggested to the Continental Congress that I should serve as the president of the newly established central bank." Hamilton replied with a solemn face and a clear voice, like a young soldier reporting to his superior.
"Haha! Mr. Hamilton, you don't have to be so serious. I am just a young man about your age. We can talk like ordinary friends. My name is Charles Godfrey, but people who know me usually call me Charles."
"Oh! Is that so?" Hamilton's stern face immediately relaxed, and he said with a laugh, "Then I'll call you Charles too; you can call me Alexander."
His character inherently contained a free-spirited element, young and full of passion. When the war of Independence broke out, this radical, who hadn't even left university, resolutely picked up a gun and enlisted in the army. He quickly demonstrated his talents in various aspects, and his military rank steadily rose.
He found it difficult to show the same respect to people his age as he would to older superiors. Charles' suggestion perfectly suited his wishes.
"Alright, Alexander. What do you think of the central bank I proposed?"
"I only know that you want this central bank to regulate the reserve requirement for banks issuing currency, which I believe is called the reserve requirement ratio? I'm not very clear on the other parts, so I hope you can explain them to me first." Although Hamilton claimed not to be clear, he immediately clarified the key point of the reserve requirement ratio as soon as he spoke.
Charles was also concerned that the content relayed by others might be inaccurate. He had long planned to discuss the most suitable central bank system for the current situation in detail with Hamilton, the brilliant economist.
So he simply explained his views while asking for Hamilton's opinions, and the two talked very thoroughly.
Historically, Hamilton was a brilliant economist, but at this time, he was still young. Charles had a deep appreciation from his conversation with him; he indeed had an extraordinary mind, but he was not a person born with all knowledge. This central bank, being a newly created and simple affair, was very suitable to be entrusted to such a flexible-minded person with some common sense of economics.
After the discussion, Charles introduced him to Morris. After an assessment by a special economic committee, the young Hamilton was officially appointed as the first president of the Continental Congress' central bank.
The position of central bank president sounded impressive, but in reality, the entire department consisted of only a handful of people, with Hamilton alone responsible for daily affairs. Daily affairs involved supervising the currency issuance of various banks and routine, non-confidential operations. The other members were part of the economic committee and only attended discussions when setting the reserve requirement ratio.
Once the central bank was in place and had set a reserve requirement ratio of ten to nine at its first meeting, Charles' Pittsburgh Bank, Pennsylvania Bank, and Morris' Bank of America all began issuing new US dollars based on their reserves.
Seeing that most of the arrangements in Philadelphia were complete, Charles began his journey back to Pittsburgh.
There had been a lot of good news from Pittsburgh recently: Antoine' Western Expeditionary Force had returned to town, this year's autumn harvest had begun in full swing, and the first batch of flat-bottomed river steamboats had been launched, among other things. Charles was eager to return.
At the farewell, in addition to familiar faces like James and Biddle, there was also Alexander Hamilton, who had just become the central bank president.
Charles attached great importance to this president whom he had specifically supported. Besides introducing him to his close companions, James and Biddle, he also made a point of gathering this young president with people his own age for a conversation.
The content of the conversation initially revolved around current affairs and personal situations, but as they spoke, it inevitably shifted to economics and politics.
"Mr. Hamilton, your view on prioritizing industrial development might be correct, but do you really think the Continental Congress should levy heavy taxes? Are your taxes aimed at all common people, or only at us, the wealthy?" It was Biddle who spoke; he and his family leaned towards liberalism.
Hamilton had mentioned his views on how the future government should operate during the conversation, and inadvertently spoke of taxing common people, which immediately drew strong opposition from Biddle.
Even James, next to Charles, although silent, had an expression of disapproval on his face.
"The taxes I speak of are not levied on any particular class, but on various economic transactions. Just like the tariffs we had before, they only tax the process of goods entering and exiting, and should not target any specific class or individual.
I believe that only when common people pay more taxes to the government can the nation become strong, and only then can the government protect its citizens." Hamilton knew that the three peers present were all wealthy individuals, so he wisely stated that he did not target the rich.
"Like tariffs? Our tariffs used to be very low, and the tax revenue was even less. It wasn't until the British king added that stamp tax that it became a huge income, and at the same time caused immense harm to our three million compatriots in America.
Do you also want to levy such a tax? Hmph, that's a huge sum, but I think our Continental army, after driving away the British king who exploited us, surely wouldn't turn around and exploit us themselves!" Biddle deliberately glanced at Hamilton's Continental army uniform.
Although Hamilton was an economist, his economic situation at the time was not good. Having just become president, he hadn't yet received his first salary, and he was still wearing his old military uniform. Biddle' behavior clearly implied, "Your own economic situation isn't good, yet you dare to speak grandly about national economic policy."
"I don't think the Continental Congress would allow such a tax to be imposed on us again," James interjected.
"Haha! The stamp tax you're talking about is completely different from a true tariff. A tariff is a normal tax, while a stamp tax is merely an Attach tax. Most people are willing to accept normal taxation, which will absolutely benefit the future development of the country." Hamilton was a very individualistic person, and hearing Biddle' sarcastic tone, he seemed somewhat disinclined to say more.
Charles strongly supported Hamilton's views, and seeing Biddle and the other person oppose, he stepped in to help.
"Indeed, normal taxation generally promotes the development of commerce. Just like our original tariffs, though small, if these tariffs were absent, it would absolutely not work.
The construction and maintenance of ports, the salaries of management personnel—every penny is essential. If there were no such tariffs, commerce would actually not flow as smoothly."
Hamilton, hearing Charles' agreement, nodded to him gratefully.
"Charles! I don't oppose moderate taxation, but those taxes should be used in ways that benefit commercial development. However, from Hamilton's words, it seems he wants to levy heavy taxes to develop a strong government, a strong nation. Do you also support such taxation?" Biddle pressed Charles without ceremony.
Charles felt that his words also made a lot of sense.
"What's wrong with a strong government, a strong nation? Mr. Biddle, you might not have experienced the feelings of a soldier on the battlefield—that's when the government hasn't provided security, yet you have to take up arms to serve the common people behind you.
Before, from a soldier's perspective, I resented the government greatly. But now that I stand from the perspective of a government official, I understand the reality. That's why I try every means to compensate those who serve the nation, to make them willing to do their work.
To achieve all this, there must be money, there must be taxes. This is also for the good of our nation," Hamilton said profoundly.
Historically, before participating in the war of Independence, Hamilton was a liberal, but during the process of drafting the Constitution and founding the States, he was a staunch central government advocate.
Charles was initially concerned that without later battlefield experience, he might still lean towards a free government, but after hearing his recent words, he knew his worries were unfounded.
"Mr. Hamilton, what's the difference between your rhetoric and those pro-British elements! They also advocate compulsory taxation and building a strong nation. What was the result? Our purses were empty, but we saw no benefits from that strength." Biddle paid no mind to Hamilton's profoundness and continued to vehemently refute.
Charles frowned.
He agreed with Hamilton's views, not only because history proved him correct, but also because he clearly understood that it should be done this way.
Many people in America now opposed the British king and the Stamp Act, viewing taxation as the British king's exploitation of Americans, or even directly as the government's exploitation of the people.
Consequently, many became simple liberals and anarchists. They opposed all taxes and actions that touched their freedom, unwilling to be bound by society and the state. Even many enlightened individuals held such tendencies. They stubbornly adhered to their views, and it was very difficult to refute them.
Charles tried to say:
"This is still different from the British king. The British king treated America as a colony. He took our money, but spent it on Britain. Our own government, when it collects money, will still spend it on its own citizens."
"The British king spent all his money on his nobles, and our government will also spend money on officials!" Biddle quoted a phrase often used by American liberals.
Charles had no way to refute these people's best reasons.
It wasn't that he couldn't out-argue them, but that he couldn't convince them. Because this was no longer a question of right or wrong, but a question of trust. Could those who distrust be convinced by a few words from an observer? Moreover, the more intelligent a person was, the harder they were to convince.
After the establishment of the Federal Government, Hamilton implemented many policies, many of which strengthened central authority. These measures, in the eyes of the Americans who at the time advocated freedom, were seen as preparing to establish a new kingdom government.
He received more criticism and accusations than anyone else in the government at the time. Several states even threatened to withdraw from the States. Even Washington, who had always supported him, was implicated by his economic policies and widely criticized.
However, Washington trusted him greatly and continued to support this Finance Minister until his term ended. Hamilton's return to Washington was also very high; from a Federal Government facing bankruptcy risks when he first took over, by the end of Washington's term, it had successfully completed the structure of a sound government, with balanced revenues and expenditures, and the national economy developing at a high speed.
The third president, Jefferson, also strongly opposed many of Hamilton's policies, even specifically forming the Democratic-Republican Party (later the Democratic Party) to oppose his measures. The two began a debate over national financial policy, with Jefferson equating Hamilton and other zealous Federalists with royalists.
In 1790, Jefferson, deeply fearing that what he called "monarchical" "Hamiltonianism" would prevail, even wrote the famous line, "The Hamiltonians follow panting... and are eager for the crown of the king, the diadem of the prince, and the mitre of the bishop."
However, what is amusing is that Jefferson, who had the last laugh—this Mr. President who strongly opposed Hamilton's economic policies during his campaign—still followed Hamilton's approach in many policies after taking office. Because after he personally took over, he quickly realized that if he didn't follow the economic policies Hamilton had laid out, the nation would immediately collapse.