On Hamilton's Desire for Monarchy

"Conversation began on other matters and, by some circumstance, was led to the British constitution, on which Mr. Adams observed 'purge that constitution of it's corruption, and give to it's popular branch equality of representation, and it would be the most perfect constitution ever devised by the wit of man.'  Hamilton paused and said, 'purge it of it's corruption, and give to it's popular branch equality of representation, & it would become an impracticable government: as it stands at present, with all it's supposed defects, it is the most perfect government which ever existed.'"

Jefferson quote source: The Anas. 1791-1806: Miscellany.

Arbitrary Power vs. Absolute Despotism

Jefferson's original wording in the Declaration of Independence was altered by John Adams and Benjamin Franklin before it was published for the masses.

Whereas Jefferson thought "arbitrary power" sufficient cause for rebellion, Franklin changed it to "absolute despotism."

Source

when a long train of abuses & usurpations pursuing

  invariably the same object, evinces a design to subject reduce them 

 under absolute Despotism [FRANKLIN]
  ^to arbitrary power, it is their right, it is their duty to throw off

  such government, & to provide new guards for their future security