Stephen P. Hempstead began his career as the first practicing lawyer in Dubuque, establishing a foundation in legal expertise. He served in the Black Hawk War and later represented Dubuque County in the Iowa constitutional convention. Hempstead was elected governor of Iowa, during which he encouraged immigration and financial conservation, and opposed banking. He also played a key role in drafting the laws that formed the basis of the Iowa code and served in various judicial roles throughout his career.

Stephen P. Hempstead's political identity is marked by a unique blend of fiscal conservatism and local governance autonomy. He staunchly opposed banks, vetoing attempts to overturn the prohibition against them, while allowing local authorities to decide on prohibition issues. Hempstead's encouragement of immigration and resultant population growth led to the formation of fifty-two new counties, showcasing a calculated approach to regional development. His legislative record reveals an unexpected convergence with opposing factions on environmental regulations, suggesting a highly localized strategy to protect industrial interests.