1791 HAMILTON WINS. A U.S. CENTRAL BANK IS ESTABLISHED / WHISKEY FARMERS REBEL
President Washington listens to Jefferson’s and Hamilton’s position on the Central Bank, but is ultimately taken in by Hamilton. The Father of America has a blind spot when it comes to the smooth talking, foreign- born deceiver. Others are not so easily fooled. In later years, President John Adams will describe Hamilton as: “…the most restless, impatient, artful, indefatigable, and unprincipled intriguer in the United States, if not in the world.” (9)
Along with establishing an excise tax, Hamilton’s Bank is a private company with some foreign shareholders. To cover the government’s interest payments to the Bank, Hamilton imposes an excise tax on whiskey.
When Pennsylvania whiskey farmers rebel (Whiskey Rebellion), Hamilton convinces Washington to allow him to personally lead 12,000 troops to enforce compliance. Brute force is used to collect the taxes needed to pay the interest to the foreign shareholders of the Central Bank.