Quinn daydreams about the past and what is not so different. Mr Jefferson, Mr Adams and Mr Hamilton and their money

This post appears on HumbleDollar.com Go to main Forum page »

I enjoy daydreaming on occasion. Many times my fantasies are historically based. For example, I often ponder what Ben Franklin would think of our various forms of communications and the declining role of print newspapers. Imagine explaining to Ben – our first postmaster general –  that we can place an order on Amazon at 8:00 AM and have it at our door at 3:00 PM.

Mr Franklin flew a kite and thought about electricity. I’d like to show him a nuclear generation station, wind turbines in the ocean or even a Tesla. I bet he would be amazed at contact lenses. He would have enjoyed a ride with SpaceX. Maybe he and his son (the Royal Governor) could have figured out where the drones in NJ are coming from. 

How would Alexander Hamilton view the FDIC, SEC or Federal Reserve or today’s Treasury Department or yikes the stock market? We have come a long way since the Buttonwood Agreement.

The Constitution provided the legal authority to fund the national debt, assume the states’ debts, and create the First Bank of the United States, which was funded by a tariff on imports and a whiskey tax. Taxes and tariffs, imagine that? We are back where we started. Ah, if only we funded the national debt. 

Back in Hamiltons day life insurance and annuities were not a thing. Poor Eliza Hamilton could only stay in the Hamilton home because she was helped by some well off – maybe wealthy friends, but eventually that help that was not enough as she had to move “downtown” in New York. The man who built America’s financial system didn’t handle his own very well. 

I wonder what Thomas Jefferson would think of the size of the United States today. I’d like to explain that we can travel from the East to West coast in six hours – or that there is a West Coast for that matter.  Tom could have done with financial planning though as he died bankrupt. The poor guy co-signed a loan for a friend who defaulted. That didn’t help.

He left Monticello in a terrible state of disrepair, but eventually it was saved. Thank you Mr Levy. 

Mr Washington would be delighted to have had access to the 21st century’s dental care, not to mention health care well advanced from bleeding out the bad blood. On the plus side he didn’t have to select an in-network provider. General Washington would be pleased to know we remember Von Steuben and Lafayette for their help and we are on good terms with Germany and France – notwithstanding with a few bumps in the road. 

John Adams graduated Harvard at age 20-a lawyer, farmer, statesmen, diplomat and President. He couldn’t seem to hold a job. HD readers will be pleased to know Mr Adams grew up in a “comfortable” but not “wealthy” family. In contrast to Mr Jefferson and thanks in part to an inheritance from his son Sam, John and Abigale were relatively wealthy in retirement – but remained frugal unlike Mr Jefferson who couldn’t pass up a case of good French wine or a good book.

Mr Adams would have appreciated I-95 between Boston and Philadelphia, even with traffic the trip is a bit shorter and more comfortable than the week or more it took him.

John Hancock might find it interesting that we have stopped teaching cursive in school. 

It’s time for a nap and more dreaming. I think I will start with the Wright brothers – talk about determination and overcoming adversity. They became wealthy and famous, but not happy as they could no longer do the things they most enjoyed. I think I’ve heard that theme before.

5 comments

  1. Happy Holidays to all.

    Some Ben Franklin favorites – read up on Ben – you may agree with me that he was prescient:

    “Ordaining of laws in favor of one part of the nation to the prejudice and oppression of another is certainly the most erroneous and mistaken policy…An equal dispensation of protection, rights, privileges, and advantages, is what every part is entitled to, and ought to enjoy.”

    and, perhaps …

    “We are all born ignorant, but one must work hard to remain stupid.”

    and finally (I could go on, and on, and on)

    “When you are in debt, then you are a slave.”

    As you might guess, I am a Fan of Franklin. I have read many books about Ben (I even received a Ben Franklin action doll as a gift – push his chest in the right place and get one of over 100 pithy sayings). Perhaps one of the most recent books about Ben would be of interest to you – my holiday gift to you is: Ben Franklin’s Last Bet: The Favorite Founder’s Divisive Death, Enduring Afterlife, and Blueprint for American Prosperity, by Michael Meyer

    Should be available from the Library… yes, another Ben Franklin creation…

    https://www.smithsonianmag.com/history/how-ben-franklin-invented-library-as-we-know-it-180983983/

    Like

    1. Are you sure about ““We are all born ignorant, but one must work hard to remain stupid.”? That was a meme created as a political attack recently and attributed to a Ben. From what I can find he never said that, but it still makes sense.

      Like

      1. It was in Poor Richards Almanack I believe. Regardless, he probably said a lot more that was never recorded.

        Every generation discovers Franklin for themselves. We can each of us choose to be his inheritor.

        I am always amazed to see how integral he was as a Founding Father. As far as I know, he was the only person to sign the Treaty of Paris (ending the Revolutionary War), the Treaty of Alliance with France (France recognized America as separate from England), The Constitution, and the Declaration of Independence. He was one of five assigned the duty to write the Declaration of Independence, but due to illness, he did not actively participate until the end, when Jefferson sent him a draft.

        Ben was truly the First American – independent revolutionary, businessman, politician, inventor, etc.

        We owe him as much as for any other Founder, save perhaps Washington and Lincoln.

        Like

      2. I too like Franklin. I have read his autobiography and other books the latest related to his son, royal governor of NJ who was a loyalist put in jail

        Like

Leave a Reply