‘The Compromise of 1790’ defined public finance

Current events leave no doubt. American politics and public opinion are polarized and divided. Rarely, it seems, are heated issues resolved by compromise. Yet, key compromises have contributed to the nation’s formation and to its development.

They are achieved when, and only when, one or both adversaries are willing to make concessions. A case in point: The Compromise of 1790, sometimes called “The Jefferson-Hamilton Compromise.”

Grounds for The Compromise of 1790 appeared early in President George Washington’s first term. Following his inauguration in New York, City on April 30, 1789, Alexander Hamilton became Secretary of the Treasury. Thomas Jefferson was appointed Secretary of State.