To meet the occasion
Jefferson invented the phrases, "corrupt squadron," "stock-jobbing
herd," and "votaries of the treasury," upon which he rang the changes
during a long lifetime.
To this indignation was added dismay when the effects of national
assumption of State obligations began to be appreciated; when creditors
who had besieged the State treasury for years found the Union satisfying
their just demands; when the evidences of national government, which
had heretofore been confined to a wandering Congress, began to appear
at every hearthstone. A realisation of these results brought from
Jefferson the complaint that he had been duped by Hamilton in the
assumption-capital bargain; that he had been "most innocently and most
ignorantly made to hold the candle for a wicked scheme."
A similar aggrandisement of the National Government was the motive,
according to the eulogists of Hamilton, which prompted him to make a
suggestion for another novelty, a United States bank. Ostensibly he
claimed that it would have the effect of bringing immediate financial
relief, as well as safeguarding the future.
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