THE PRICE OF GREATNESS

Founding Fathers worried over inequality, popular sovereignty, and economic growth.

Controversy over the meaning of the Constitution, the powers of the presidency, and the reach of federal government; concern about the political influence of wealthy citizens and corruption among elected officials; questions about the effects of tariffs on economic stability—these issues that beset contemporary America began in its earliest days. Focusing on James Madison (1751-1836) and Alexander Hamilton (1757-1804), Weekly Standard contributing editor Cost (A Republic No More: Big Government and the Rise of American Political Corruption, 2015, etc.) offers a revealing look at how their contrasting political philosophies shaped the new nation’s domestic and foreign policies. Although they eventually became fierce opponents, Madison and Hamilton began as allies, sharing a belief “that people were easily led astray by selfish interests that undermined the cause of good government.” State oversight could not be trusted to rein in opportunism and greed. Their proposals for fostering a strong federal government, however, were at odds: Hamilton envisioned a system emulating Britain’s, where senators, appointed by an electoral college, would serve for life, as would the president. Only members of the House would serve three-year terms. The “natural aristocracy” would be drawn from wealthy men, who, merely by virtue of their wealth, had proven their talent for leadership. He proposed a strategy of mediation whereby “individual factions within society would receive direct benefits from the government” in the expectation that they would invigorate the economy and therefore benefit the whole nation by growing its industries. Madison, on the other hand, saw a society dominated by agriculture, “populated by able-bodied, independent farmers.” Deeply suspicious of warring factions, he proposed two chambers of Congress, apportioned according to population, with the power to veto state laws. Madison’s views were held by Republicans, including Jefferson and James Monroe; Hamilton’s, by Federalists, including Washington and John Adams. All recognized the difficulty of balancing nationalism, liberalism, and republicanism, and all saw the risk of factions usurping popular sovereignty.

A well-argued examination of the nation’s founding principles.