Washington DC

Crossing the Delaware

By David Stockman  |  December 23, 2019

Merry Christmas.

Over the next few days, as my holiday “gift,” I’d like to share some reminders of what American leadership can be, via messages tailored for the season by presidents past.

These words reflect, of course, the world as presidents saw and experienced it – a rapidly changing world.

At this time of reflection, take a moment to see how others led through adversity. Here’s George Washington, writing in his capacity as Commander-in-Chief of the Continental Army to the Continental Congress about an act of daring-do that changed the course of war and helped grow a rebellion into a revolution…

In CONGRESS, December 31, 1776.

This morning CONGRESS received the following letter from General Washington.

Head Quarters, Newtown, 27th December, 1776.

Sir,

I have the pleasure of Congratulating you upon the success of an enterprize which I had formed against a Detachment of the Enemy lying in Trenton, and which was executed yesterday Morning. The Evening of the 25th I ordered the Troops intended for this Service (which were about 2400) to parade back of McKonkey’s Ferry, that they might begin to pass as soon as it grew dark, imagining we should be able to throw them all over, with the necessary Artillery, by 12 O’Clock, and that we might easily arrive at Trenton by five in the Morning, the distance being about nine Miles. But the Quantity of Ice, made that Night, impeded the passage of the Boats so much, that it was three O’Clock before the Artillery could all get over, and near four, before the Troops took up their line of march.

This made me despair of surprising the Town, as I well knew we could not reach it before the day was fairly broke, but as I was certain there was no making a Retreat without being discovered, and harassed on repassing the River, I determined to push on at all Events. I form’d my detachments into two divisions one to March by the lower or River Road, the other by the upper or Pennington Road. As the Divisions had nearly the same distance to March, I ordered each of them, immediately upon forcing the out Guards, to push directly into the Town, that they might charge the Enemy before they had time to form. The upper Division arrived at the Enemys advanced post, exactly at Eight O’Clock, and in three Minutes after, I found, from the fire on the lower Road that, that Division had also got up. The out Guards made but small Opposition, tho’ for their Numbers, they behaved very well, keeping up a constant retreating fire from behind Houses. We presently saw their main Body formed, but from their Motions, they seemed undetermined how to act. Being hard pressed by our Troops, who had already got possession of part of their Artillery, they attempted to file off by a road on their right leading to Princetown, but perceiving their Intention, I threw a body of Troops in their Way which immediately checked them. Finding from our disposition that they were surrounded, and that they must inevitably be cut to pieces if they made any further Resistance, they agreed to lay down their Arms. The Number, that submitted in this manner, was 23 Officers and 886 Men. Col Rall. the commanding Officer with seven others were found wounded in the Town. I dont exactly know how many they had killed, but I fancy not above twenty or thirty, as they never made any regular Stand. Our loss is very trifling indeed, only two Officers and one or two privates wounded. I find, that the Detachment of the Enemy consisted of the three Hessian Regiments of Lanspatch, Kniphausen and Rohl amounting to about 1500 Men, and a Troop of British Light Horse, but immediately upon the begining of the Attack, all those who were, not killed or taken, pushed directly down the Road towards Bordentown. These would likewise have fallen into our hands, could my plan have been compleatly carried into Execution. Genl. Ewing was to have crossed before day at Trenton Ferry, and taken possession of the Bridge leading out of Town, but the Quantity of Ice was so great, that tho’ he did every thing in his power to effect it, he could not get over.

This difficulty also hindered General Cadwallader from crossing, with the Pennsylvania Militia, from Bristol, he got part of his Foot over, but finding it impossible to embark his Artillery, he was obliged to desist. I am fully confident, that could the Troops under Generals Ewing and Cadwallader have passed the River, I should have been able, with their Assistance, to have driven the Enemy from all their posts below Trenton. But the Numbers I had with me, being inferior to theirs below me, and a strong Battalion of Light Infantry at Princetown above me, I thought it most prudent to return the same Evening, with my prisoners and the Artillery we had taken. We found no Stores of any Consequence in the Town. In justice to the Officers and Men, I must add, that their Behaviour upon this Occasion, reflects the highest honor upon them. The difficulty of passing the River in a very severe Night, and their march thro’ a violent Storm of Snow and Hail, did not in the least abate their Ardour. But when they came to the Charge, each seemed to vie with the other in pressing forward, and were I to give a preference to any particular Corps, I should do great injustice to the others. Colonel Baylor, my first Aid de Camp, will have the honor of delivering this to you, and from him you may be made acquainted with many other particulars; his spirited Behaviour upon every Occasion, requires me to recommend him to your particular Notice. I have the honor &ca.

Make Your Move…

This is the most politicized market in history. And the Tweeter-in-Chief is still in charge. So, the situation is changing almost by the minute.

It’s “Impeachment!” in Imperial Washington and all over the Mainstream Media. It’s “Easy Money!” on Wall Street and across Bubblevision.

And it seems as if the whole world has, indeed, gone mad.

Amid this chaos, prices will continue to rise and fall, trends will continue to develop and dissipate.

Well, The Stockman Letter is made for times like these. And we’ve updated our design to help us better navigate to not only the safest harbors but also the most promising opportunities.

The stakes are as high as they can be heading into 2020. Markets appear to be straining, catching up to an economy that’s been weak and getting weaker for years.

The Donald is tied up in the day-to-day movements of the major stock indexes like no president before him. The increasingly desperate incumbent will do anything he must to hold the White House.

It’s a major tipping point. And there’s no telling what the Donald’s great disruptions could do to your wealth.

You’ve got to be nimble to win in this market…

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David Stockman

David Stockman is the ultimate Washington insider turned iconoclast. He began his career in Washington as a young man and quickly rose through the ranks of the Republican Party to become the Director of the Office of Management and Budget under President Ronald Reagan. After leaving the White House, Stockman had a 20-year career on Wall Street.MORE FROM AUTHOR