Financier of the Revolution forced into bankruptcy court: “Sixty days after date, I promise to pay unto Mr. Mathias Kurlin Junr or Order Thirteen Hundred & forty six Dolls & Sixty Seven Cents for value recd.”

Can you imagine a nation with no uniting banking system or currency? With insufficient revenue for even the most necessary expenses? With no ability to act as one nation on the world stage?

Clearly, Washington needed a right-hand man for the incredibly detailed work of building a government, formulating plans, and bringing them from conception to completion. His choice was obvious. Alexander Hamilton had revealed his unique energy and capability throughout the Revolutionary War, at the Constitutional Convention, and in the ratification battles. 

On September 11, 1789, the same day Washington signed his letters transmitting the Act of Congress Establishing the Treasury Department, he made his first cabinet nomination: Alexander Hamilton as Secretary of the Treasury. Within hours, the Senate confirmed the appointment.

The financial system Hamilton designed created the possibility of a real United States of America, whose founding purpose was to advance the rights of the people to “life, liberty and the pursuit of happiness.”

Secretary of the Treasury Alexander Hamilton informs President Gulian Verplanck (1751-1799) and the directors of the Bank of New York, an institution he helped to found in 1784, that collectors of three New York and New Jersey ports would no longer receive their bank’s notes in exchange for specie. Those port collectors were John Lamb (1735-1800) of New York City; Henry Packer Dering (1763-1822) of Sag Harbor, on Long Island, New York; and John Halstead (1729-1813) of Perth Amboy, New Jersey.