An attempt to create an elective monarchy in the United States failed. Alexander Hamilton argued in a long speech before the Constitutional Convention of 1787 that the President of the United States should be an elective monarch, ruling for "good behavior" (i.e., for life, unless impeached) and with extensive powers. Hamilton believed that elective monarchs had sufficient power domestically to resist foreign corruption, yet there was enough domestic control over their behavior to prevent tyranny at home. His proposal was resoundingly voted down in favor of a four-year term with the possibility of reelection. In his later defense of the Constitution in The Federalist Papers, he often hints that a lifetime executive might be better, even as he praises the system with the four-year term.
However, looking at the political landscape today, it would appear that Hamilton's vision for America is coming to fruition. Today we have ruling families that are unstoppable with Hillary being the next President. Also, the powers of the President have increase and expanded over the years. Even though some may say Hamilton lost his fight, I say he won more than he lost in the end.