Debtor Diplomacy: Finance and American Foreign Relations in the Civil War Era, 1837-1873 by Jay Sexton (Repost)

ISBN: 0199281033

Category: Novel

Tag: History and Military


Posted on 2012-09-13. By anonymous.

Description


Debtor Diplomacy: Finance and American Foreign Relations in the Civil War Era, 1837-1873 by Jay Sexton (Repost)
Publisher: Oxford University Press, USA (September 15, 2005) | ISBN: 0199281033 | Pages: 304 | PDF | 1.6 MB

The United States was a debtor nation in the mid-nineteenth century, with half of its national debt held overseas. Lacking the resources to develop the nation and to fund the wars necessary to expand and then preserve it, the United States looked across the Atlantic for investment capital. The need to obtain foreign capital greatly influenced American foreign policy, principally relations with Britain. The intersection of finance and diplomacy was particularly evident during the Civil War when both the North and South integrated attempts to procure loans from European banks into their larger international strategies. Furthermore, the financial needs of the United States (and the Confederacy) imparted significant political power to an elite group of London-based financiers who became intimately involved in American foreign relations during this period.



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