In 1794, John Taylor of Caroline launched a direct assault on Alexander Hamilton’s entire financial regime – the national bank, the debt, the funding system, the whole machine. He called it a “political papacy,” a new aristocracy built on paper money, perpetual debt, and lawless power. On this episode, learn about Taylor’s forgotten takedown of the system that laid the foundation for the largest government in history.

Path to Liberty: May 23, 2025

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John Taylor – Letter to George Washington (14 Jan 1794)

John Taylor – An enquiry into the principles and tendency of certain public measures (1794)

Gordon S. Wood – Empire of Liberty

NPS – First Bank of the United States

Alexander Hamilton – Report on a National Bank (13 Dec 1790)

St. Louis Fed – A Chapter in the History of Central Banking

Alexander Hamilton – Letter to Robert Morris (30 Apr 1781)

Thomas Jefferson – Letter to George Washington (9 Sept 1792)

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