Albert Gallatin

Next to Alexander Hamilton, Albert Gallatin was perhaps the most important public financier in American history. Although a biography of Gallatin has been published in recent years, this book is the first full-scale study of his financial and fiscal policies. Rather than merely describing Gallatin's policies, Mr. Balinky analyzes them, drawing important and sometimes startling parallels to contemporary government spending. Setting forth a clear picture of the ideal towards which Gallatin would have had the new nation move, the author compares the ideal with the actual financial and fiscal practices of Jefferson's two administrations. Gallatin stood for reduction in government spending, a decreased public debt, alleviation of the tax burden, a balanced budget. What his theories and policies did to the nation and the Republican (Jeffersonian) party from 1801 to 1805 is clearly outlined in this brilliant new study.