Which phrase from the excerpt shows that Hamilton thinks other governments are closely watching the formation of government in the United States? … The subject speaks its own importance; comprehending in its consequences nothing less than the existence of the UNION … …the safety and welfare of the parts of which it is composed, the fate of an empire in many respects the most interesting in the world… AFTER an unequivocal experience of the inefficiency of the subsisting federal government, you are called upon to deliberate on a new Constitution… Among the most formidable of the obstacles which the new Constitution will have to encounter may readily be distinguished the obvious interest of a certain class of men in every State….