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Where, and how, to draw the line between "respectable stockholders" and "gamblers" - between the Force and its Dark Side (if indeed such a distinction is possible) - has remained a central dilemma of American capitalism. If the exhibit had truly been interested in exploring the background of today's Economy, it might have touched on the long history of efforts to regulate and rein in speculative excess (such as those legislated during the New Deal), and right wing efforts to dismantle such constraints. It might have observed that while the 1792 meltdown proved short and shallow, subsequent ones grew steadily more damaging, and that in recent years the potential for national and global financial catastrophe has swollen enormously (as have the attendant costs to taxpayers of cleaning up messes made by assorted sharks and bingers - as in the Savings & Loan, Long Term Capital Management, and Asian Tiger crises). But for all the exhibition's pseudo presentism, it's no more interested in a critical engagement with today's Economy than it is with Hamilton's.

Things are similarly smiley-faced over at the "Free Press" screen where a Hamilton quotation about newspapers being "expedient messengers of intelligence" segues to a stack of New York Posts coming off the assembly line. Given that Hamilton was the rag's Founding Father, and given that the current publisher kicked in toward underwriting exhibit expenses, the product placement seems fair enough, though one wonders if the Post would have been accorded such prominence had liberal Dorothy Schiff still been at the helm, rather than right wing Rupert Murdoch.

We'll forebear (as does the show) from contemplating the possible deleterious consequences for a Free Press of the monopolization of media outlets in the hands of such barons as Sir Rupert. But on the historical front, we should note (as the show does not) that while Hamilton's legal argument in the Croswell case was indeed a milestone in the development of a Free Press, he was also [as Chernow reports] a "full throated" supporter of the Sedition Act, a milestone in the suppression of a Free Press.

Hamilton vigorously supported prosecution of journalists who criticized the - his party's - government. When one opposition editor called Hamilton's projected military a "standing army" he was sentenced to two months in the slammer. Another got eighteen months behind bars "for daring [Chernow says] to print the heresy that the government allowed the wealthy to benefit at the expense of commoners." Five of the six most influential Republican papers were ultimately prosecuted by a Federalist dominated judiciary. In the case of the Argus, New York's leading opposition sheet, the editor was charged with sedition for contending that "the federal government was corrupt and inimical to the preservation of liberty," and Hamilton opened up a second front by instigating his own libel suit. If [Chernow observes] his "aim had been to crush the Argus, he succeeded," as it shut down the following year. Hamilton's later ringing defense of Croswell - a Federalist editor whose ox was being gored by a Republican administration - should, at the least, be set in this larger context.

Similarly, given the exhibit's attention to Hamilton's immigrant status, and his attendant supposed cosmopolitanism, it might have mentioned that, in the Alien Act era, Hamilton [as Chernow reports] "ranted about the need to punish people, especially the foreign born who libeled government officials"; that he sought "to throttle the flow of immigration"; and that he would have liked to kick out most of those who'd made it in: "My opinion is that the mass [of aliens] ought to be obliged to leave the country." Even John Ashcroft didn't go that far.

It's also worth noting here that while Jefferson and Madison promoted religious tolerance and separation of church and state, Hamilton sought to create a network of Christian Constitutional Societies that would mobilize devout citizens against the presumably godless Jeffersonians - "an execrable idea," Chernow believes, "that would have grossly breached the separation of church and state and mixed political power and organized religion".

The point of this extended video screen analysis is not that the exhibition should have drawn a different set of past-to-present lines, connecting unattractive Hamiltonian policies to unappealing aspects of the present - though such an approach would have been at least as plausible as what's on offer. Imagine each giant screen re-titled (PREEMPTIVE IMPERIALISM / ELITE RULE / CRONY CAPITALISM / IMMIGRATION RESTRICTION), each displaying appropriate Modern America film vignettes, and each pinning the sorry status quo squarely on Hamilton with apposite quotations as evidence - "Our real Disease... is DEMOCRACY" [A. Hamilton, Letter to T. Sedgwick, 7/10/04]. The point, rather, is that thinking the contemporary world can be profitably understood as the lengthened shadow of one eighteenth century gentleman is a deeply misguided and misleading way of doing history.

There's nothing whatever wrong with setting the present in historical context, but this is not the way to go about it. Exploring how and why a particular aspect of the current scene came into being is best done by working backwards from now. To investigate why, say, we're at war in Iraq, one must attend to the enormous number of actions and events, which cumulatively constituted the matrix of constraints and possibilities within which today's players have acted, and which have made the actual outcome more likely (though not inevitable). Some factors emerged in the recent past - the first Gulf War, the fall of communism, the Iranian revolution; others go back to the 1940s - our burgeoning dependence on mid-east oil, our emerging alliance with Israel;others (the epoch of British rule) are still more remote. But on this, or almost any issue, the words and deeds of Alexander Hamilton are light years from being the most salient considerations.

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