250 Years - The American Experiment

Twelve score and a half score more, our fathers brought forth on this continent, a new nation, conceived in Liberty, and dedicated to the proposition that all men are created equal. Eleven years later, We the People agreed to form a more perfect union. The United States Constitution was created. Right there, a novel concept was born; Admitting imperfection while striving to continue to be better. That type of approach was unheard of at the time. Clearly back then, all men were not considered equal. And women weren’t even included. But those mistakes were corrected over time. Though still flawed, the admission is the beauty and the guts of the American system which has drawn awe from the rest of the world ever since...

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Transcript

SPEAKER_01 0:00

TGI Fourth, everyone. It's Thursday, July 2nd, 2026. This week's topic, the 250 Years of the American Experiment. But before we start, here's a word from our attorneys.

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The information and opinions presented in this podcast, including the views of guests not affiliated with the Blue Spring Wealth, are for general informational and educational purposes only and should not be considered investment in tax or legal advice. Any references to specific securities of the sectors, industries, products, or services, do not constitute a recommendation or endorsement. All investments involve risk, including the possible loss of principles.

SPEAKER_01 0:50

Eleven years later, we the people agreed to form a more perfect union. The United States Constitution was created. Right there, a novel concept was born, admitting imperfection while striving to continue to be better. That type of approach was unheard of at the time. Clearly, back then, all men were not considered equal, and women weren't even included, but those mistakes were corrected over time. Though still flawed, the admission is the beauty and the guts of the American system, which has drawn awe from the rest of the world ever since. Our founding fathers were some of the smartest minds our nation has ever seen. Their ages spanned a wide range, as did their backgrounds and experience. Benjamin Franklin was the senior statesman at 70 years old. The son of Liberty, Sam Adams, was 53. George Washington was a mature 44 in 1776. John Adams was forty, John Hancock 39. Thomas Jefferson was 33. But many of the brightest were still kids. James Madison and Henry Knox were 25 years old. Alexander Hamilton was just 21 when the Declaration of Independence was signed, and James Monroe was still a teenager at age 18. Importantly, they didn't always get along. Each had ideas of what America's formation should be, and it often drew conflict. But they also found compromise. America was and still is an experiment built on a revolutionary idea that sovereignty lies with the people rather than a monarch. Prior, this was never a thing. The American experiment remains an evolving test of whether a diverse society can actually govern itself. Two hundred and fifty years and going proves that it can, but it sure ain't easy. It's not supposed to be. For it's a government of the people, by the people, for the people. The greatness of our government system is it was designed to hold ourselves accountable. It was established with necessary checks and balances. It promotes new ideas and debate. Disagreement is a key part of the American system. When we fall short, we know why and are able to fix it. Today seems to be one of those times. Success requires leadership and collaboration. Checks and balances only work when leaders answer the call and enforce their responsibilities. A commitment to the Constitution and we the people is paramount. We hold these truths to be self-evident. People over party, prudence over self-promotion. It may sound naive, but it is a real thing. And it works. The American experiment was modeled as a democracy, but more accurately, it's a constitutional republic with elected representatives. Our founding fathers assertively resisted a direct democracy out of fears of mob rule. They were concerned that common citizens lacked the knowledge of complex political and economic issues and could be easily swayed or manipulated by demagogues in emotion. Hamilton and Madison argued in the Federalist Papers that a pure democracy would be incapable of defending private property and minority rights. Our democracy was not designed to be on autopilot. It needs constant work to adjust and preserve its principles and value. It requires informed voters and educated citizenry. The first voters had to be property owners. The founding fathers made sure those that had a vote had a stake in America's success. Today's standards certainly consider that criteria discriminating, but you can understand how those men who designed the nation from scratch were cautious as to preventing outsiders from infiltrating the infant system. We inherited freedoms and institutions that countless generations before us sacrificed to build and preserve. That inheritance carries with it a great responsibility. The Revolutionary War was a grueling eight-year ordeal, which was so unclear how it would end from the get-go. There were so many dark days. One of George Washington's greatest accomplishments was merely keeping the army together under brutal conditions and merely surviving. Washington's popularity was universal throughout, after the war. He was the only unanimously voted president in our history. He easily could have been king. Washington's greatest contribution among so many to our nation was putting country first before self-interest and stepping down. He showed the world when and how to say goodbye. After giving everything to our nation, George Washington went home. Our system got tested at the very beginning, and it really hasn't stopped. The eighteen hundred presidential election was pivotal. It was a rematch of Jefferson versus Adams. John Adams was the incumbent, and Thomas Jefferson was running again after losing the prior election. These two founding fathers couldn't agree on pretty much anything, a northerner versus a southerner, a federalist versus states' rights activist. Political parties were born in this election. It is considered one of the dirtiest campaigns in our nation's history. It nearly resulted in a constitutional crisis with Jefferson's vice presidential candidate Aaron Burr getting the same number of votes. The Federalist-led House of Representatives broke the tie with strong influence from Alexander Hamilton, voting in Jefferson as the nation's third president. It was the first peaceful transfer of power between parties at the White House. It wasn't peaceful everywhere. Hamilton and Burr's relationship never recovered. They had a duel. Hamilton's life ended. That changed the course of history. A musical was later written about it. You might have heard of it, but Jefferson and Adams made peace. As these men aged, they initiated a multi-year pen pal relationship. They matured. Time healed the anger. Wisdom was the result which led to mutual respect. And something that still remains a mystery of history with great irony. They both died on the same day, July 4, 1826. It was the 50th anniversary of the declaration that Jefferson wrote, and they both signed. How appropriate is that? Down in Lower Manhattan, in 1792, the Buttonwood Agreement commenced. It took place at the corner of Wallen Broad. The New York Stock Exchange was born. This institution, driven by free market capitalism, fueled our nation's economic engine and innovative might. It spurred new ideas. It helped advance the railroads, the industrial revolution, and the advancement of the internet, among so many others. It helped fund the visions of masterminds like Edison, Ford, Gates, and Jobs. America's ideas converted to execution in the form of the light bulb, the telephone, the automobile, and computers. The stock market has been the greatest wealth creator in America's storied history. Two hundred and fifty years of freedom is worth celebrating. It's been two hundred and fifty years of this great American experiment. It also comes at a time when our nation is sorely divided. Most Americans are celebrating this major milestone. However, some don't plan to revel in the achievement feeling conflicted of what America has become. That alone is quite unfortunate. That said, freedom of speech and freedom of opinion are foundational in our nation's existence. A new Gallup poll had 76% of responders say they are dissatisfied with the way things are going in America. It used to be that attitudes drove politics. These days, it's the opposite. It seems more like politics drive attitudes. A sense of community is frayed. COVID definitely made it worse. There's a lack of respect for competing views. Compromise now means weakness in Washington. Finger pointing is the common way there. The congressional approval rating sits down around 10%. That's an all-time low. Being disgusted with Congress is one thing the vast majority of Americans do agree upon. The upside. It shows they indeed can agree on something. Importantly, most Americans try to forget the national issues over this holiday. The fourth is largely experienced with small town celebrations. People congregate at the beach or the lake or town squares to engage. Grills are going strong. Fireworks litter the skies. It's about communities coming together. Americans across the country will be celebrating in towns and cities with their neighbors, regardless of what happens in Washington. And quite frankly, that's what it's all about. We the people, not politicians. If I had the power, I would declare our independence on devices for the day. People are hooked. Social media can be toxic, information seems seldom accurate, and reality TV has never been real. Before we know it, if we're not careful, we the people are going to transition to we the machines. Silicon Valley has become incredibly powerful and influential. It's pressuring the human element. Our system needs some sort of regulation or pragmatic rules in which to abide by. Without it, it's as if our society is substituting a centralized authority that lacks reason and moral sense to represent the responsibility of human beings' best interests. That is no small deal. The fact is, America was born on optimism. People's dreams were bigger than their fears. This concept has been a magnet for millions fleeing hardship and seeking a better life. The opportunity to have a say about their future was worth the risks. To be a citizen and earn the right to vote with a sense of personal self-government that requires them to make up their own minds, to force them to understand issues and properly inform themselves before making responsible decisions. That's how America works best. Collaboration with a shared vision, contributing to the cause, being a part of something much bigger than ourselves. That's what two hundred and fifty is about. Those minute men in Lexington and Concord believed it. They risked their lives for the cause. Lincoln did everything he could to preserve it. So did those brave souls that stormed the beach in Normandy. What's referred to as our greatest generation dropped everything when Lady Liberty and Uncle Sam came calling. It's imperative that Sam and Liberty reciprocate too. Government for the people. That's also what two hundred and fifty is about. Our nation has faced challenges. It's done so from the very beginning. But here's our secret weapon. The American spirit is peerless, time tested, and true. With perseverance and sound leadership, there's nothing we can't do. With crisis brings opportunity, history has shown. Success through ingenuity, it's the fabric of our home. This is indeed a moment for our great nation. Nothing is predestined. Ben Franklin said it well. Quote, the U.S. Constitution doesn't guarantee happiness, only the pursuit of it. You have to catch up with it yourself. End quote. That Franklin sure was wise. But you have to believe it to achieve it. And though our nation has flaws, there's no other like it who admits it and is constantly working to improve. You could argue the rate of that effort doesn't always move at the same speed. And of course, there are so many ideas and opinions of what that improvement looks like. That's at the sole discretion of we the people, as long as we're willing to listen and compromise. We'll get it right, eventually. How do I know? Winston Churchill articulately stated, quote, you can always count on Americans to do the right thing, only after exhausting all other possibilities. End quote. Now, there's no evidence that Churchill ever actually said this. But it sure sounds accurate, don't you think? I'm a believer. Back to today, there's an important lesson with this World Cup. It's far bigger than soccer. International visitors have flocked to American cities this summer with enthusiasm. They engaged our bars and restaurants from coast to coast with energy. The Scots drank all the beer in Boston. Brazilians stormed Times Square with smiles and positivity. Austrians took over restaurants in San Francisco with revelry. These visitors are celebrating America as they cheer on their teams. They have been pleasantly surprised by their experiences in our country compared to the portrayal of the U.S. and the media. Team USA has a vibe. We the people are rallying around their cause. I must admit I teared up a bit hearing our national anthem ahead of that big win Wednesday. Our cities are shining. Engagements have been electric. From the mountains to the prairies to the oceans, white with foam, it's a valuable reminder of how special our country is. This popular phrase has captured the mood across the globe. Quote, if you want to hate America, watch the news. If you want to love America, drive through it. End quote. That says a lot. Actually, that says it all. During the Constitutional Convention in Philadelphia in 1787, George Washington presided over the group seated in a particular chair. Carved in the back was a son. It caught the attention of Benjamin Franklin, then a wise 87-year-old statesman. As the delegates were signing the final document, it was reported that Franklin said these words I have often and often, in the course of the session, looked at that behind the president without being able to tell whether it was rising or setting. But now at length I have the happiness to know that it is a rising and not a setting sun. End quote. The sun keeps rising on America. The experiment continues. Happy birthday, America. Wishing you a prosperous 250th this year, and here's to 250 more. The market is closed Friday in observance of the holiday. Our offices will be closed too. We'll be back dark and early on Monday. I'm Mike Frasier.