History 2

Financial History 1-10: The Revenue Imperative: The Union's by Jane S Flaherty

Posted On March 23, 2017 at 6:06 pm by / Comments Off on Financial History 1-10: The Revenue Imperative: The Union's by Jane S Flaherty

By Jane S Flaherty

Presents a finished evaluation of the Union monetary rules in the course of the American Civil conflict. This paintings argues that the profit valuable, the necessity to maintain speed with the burgeoning bills of the clash, ruled the advance of financial coverage.

Show description

Read Online or Download Financial History 1-10: The Revenue Imperative: The Union's Financial Policies During the American Civil War PDF

Best history_2 books

Handbook of European history, 1400-1600: late Middle Ages, Renaissance, and Reformation. Vol. 1: Structures and Assertions

The guide of eu heritage 1400-1600 brings jointly the easiest scholarship into an array of topical chapters that current present wisdom and considering in methods valuable to the expert and obtainable to scholars and to the expert non-specialist. 41 prime students during this box of historical past current the kingdom of data in regards to the grand topics, major controversies and fruitful instructions for learn of eu heritage during this period.

La France et le Royaume-Uni : des ennemis intimes

Des guerres, des alliances, des haines, des jalousies, de l. a. fascination, de l. a. répulsion, de l’émulation – et même, quelquefois, de l’amour : les kin entre l. a. France et l’Angleterre, puis le Royaume-Uni ont quelque selected d’unique dans l’histoire des international locations. Après des siècles de rivalité, voire de haine, durant lesquels chacun des deux peuples a bridé les victoires de l’autre et l’a empêché d’étendre son empire sur le monde, Indépendance américaine contre perte du Canada, Waterloo contre Austerlitz, une relation originale s’est instaurée, faite de chamailleries et de batailles de rugbymen, mais aussi et d’abord de soutien aux heures sombres et d’accord sur les valeurs essentielles.

ZeitRäume 2016

ZeitRäume versammelt jährlich eine Auswahl von zeitgeschichtlichen Analysen, die am Zentrum für Zeithistorische Forschung in Potsdam (ZZF) vorgestellt wurden oder aus der Arbeit des Instituts entstanden sind. Die Zusammenstellung hat nicht den Anspruch, die am ZZF betriebenen Forschungen repräsentativ zu spiegeln.

Extra resources for Financial History 1-10: The Revenue Imperative: The Union's Financial Policies During the American Civil War

Sample text

38 The United States had managed its debt well, despite early republican concerns about the perils of indebtedness. 39 Only during times of great uncertainty, such as the months before the War of 1812, did the government sell securities at interest rates higher than 8 per cent. 41 Throughout the antebellum era, investors had poured money into the United States. The reliability of the federal interest payments enticed many Europeans to invest in US securities, especially railroad bonds. After the collapse of the state bonds in the 1840s, foreigners surveyed the debt in the United States more cautiously.

36 As sectional tensions mounted, investors became increasingly cautious when loaning money to the United States government. They would not commit to long-term securities, instead opting for Treasury notes. This dependence on Treasury notes to meet ordinary government expenses began a policy of short-term borrowing that the Republican administration could not reverse at the onset of the war. 37 However, this reliance on Treasury notes began during President Buchanan’s term because the market would not support longer-term debt.

Throughout the antebellum era Massachusetts, for example, collected over half of its revenue from a 1 per cent tax on bank capital. 109 The purchase of stock or investment in bonds of corporations helped underwrite internal improvements in states. The interest from these investments provided another source of ‘tax-free’ revenue. States helped foster private initiatives. 110 Road, canal and railroad companies all received state support and in turn helped support social spending through interest and dividend payments as well as toll collections.

Download PDF sample

Rated 4.91 of 5 – based on 16 votes